 "Derivatives strategy on Pidilite Industries by HDFC Securities")
Buy Pidilite Industries March Future at Rs 1,175
Stop loss: Rs 1,145
Target: Rs 1,230
Rationale:
- Bullish Inverse head and shoulder breakout on the weekly chart
- Breakout from the price consolidation holding for last 16 weeks
- Long Build up is seen the derivative segment for last couple of sessions
- Primary trend has been bullish and the stock is on the verge on registering new all-time high
- We recommend buying Pidilite March Future at CMP, for the upside target of Rs 1,230.
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