 "Derivative Strategy on South Indian Bank by HDFC securities")
Derivative Strategy on South Indian Bank by Devarsh Vakil & Nandish Shah - PCG Desk of HDFC securities:
Buy South Indian Bank October 27.5 call
CMP: Rs 1.70
Stop loss: Rs 1.
Target: Rs 3.50
Rationale:
1. We have seen long positions being built in South Indian Bank futures today.
2. It has reached to the support of upward slopping trendline, adjoining the low of 29-March and 11-August 2017.
3. In the option segment, 27.5, 30 and 32.5 call added 2.65, 9.3 and 4 lakh shares in open interest, suggesting higher possibility of sharp price from here.
Disclaimer: The analysts may have positions in any or all the stocks mentioned above.
Buy South Indian Bank October 27.5 call
CMP: Rs 1.70
Stop loss: Rs 1.
Target: Rs 3.50
Also Read
Lot size: 33141
Rationale:
1. We have seen long positions being built in South Indian Bank futures today.
2. It has reached to the support of upward slopping trendline, adjoining the low of 29-March and 11-August 2017.
3. In the option segment, 27.5, 30 and 32.5 call added 2.65, 9.3 and 4 lakh shares in open interest, suggesting higher possibility of sharp price from here.
Disclaimer: The analysts may have positions in any or all the stocks mentioned above.
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