 "Derivatives strategy on Manappuram Finance by HDFC Securities")
Derivatives strategy on Manappuram Finance by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities:
Buy Manappuram Finance August 110
Call at Rs 5.50
Stop loss of Rs 3
Target at Rs 10
Rationale: We have seen Long positions being built in Manappuram Finance futures’ during the August series till now where we have seen 11% Rise in Open Interest with Price rise of 6%
Also Read
Stock price has given breakout on the daily chart yesterday by closing above the previous resistance of 108 levels with higher volumes
Stock price has managed to close above 200 day SMA yesterday, first time after 30-May-2018
Momentum Indicators and Oscillators are Indicating strength in the stock for the short to medium term.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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