 "Derivatives strategy by HDFC Securities: Buy Oct Future for Reliance Ind")
Buy Reliance October Future @ Rs 1,304
Stop loss: Rs 1,280
Target: Rs 1,350
Rationale:
1) We have seen long build up in the Reliance futures’, where we have seen rise in Open Interest with price rising by 1.3 per cent.
2) Stock price has broken out on the daily chart by closing above the resistance level of 1293 level yesterday.
Also Read
3)Oscillators and Momentum Indicators like RSI and MACD showing strength in the stock on the daily and weekly charts.
4) Stock price is trading above its 5, 20 and 200 day SMA, Indicating stock is in uptrend for short to medium term.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%