 "Derivatives strategy for State Bank of India by HDFC Securities")
BUY SBI JULY FUT @ Rs 200.7
Stop loss of Rs 195
Target Rs 210
Rationale:
- Symmetrical Triangle Breakout with the higher volumes on the daily chart
- Higher tops and higher bottoms on hourly and daily chart
- The stock has long build up of more than 25% in the July Series
- The stock price is also placed above all important moving average parameters
- Indicators and Oscillators are showing bullish signs
- We recommend buying SBI July Fut at CMP, for the upside target of 210, keeping Stoploss at 195.
Disclaimer: Vinay Rajani is Technical Research Analyst at HDFC Securities. Views are personal.
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