 "F&O call: Here's why you should buy SBI Put option for March series")
Derivative Stock Strategy (Mar 2023 Expiry)
BUY SBIN March 510 PUT at Rs 6.55
Stop loss: Rs 2
Target: Rs 20
Stop loss: Rs 2
Target: Rs 20
Rationale
- On March 23, the stock witnessed short build up with OI rising 4 per cent, with a 2 per cent price fall
- The stock price broke below consolidation, which it held for the past five trading sessions
- The stock is placed below all important moving averages, which indicates a bearish trend on all time frames
Note: We recommend buying SBIN March 510 PUT at CMP, for the upside target of 20, keeping stop-loss at 2.
(Vinay Rajani, Senior Technical and Derivative Research Analyst at HDFC securities. Views expressed are personal).
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