 "Here's a Bull Spread strategy on Mindtree by HDFC Securities")
Buy MINDTREE 3000 CALL at Rs 43 & simultaneously sell 3100 CALL at Rs 21
Lot Size: 400
Cost of the strategy: Rs 22 (Rs 8,800 per strategy)
Maximum profit: Rs 31,200 if MINDTREE closes at or above Rs 3,100 on 26 August expiry
Breakeven Point: Rs 3022
Rationale:
- There is a long build-up in Mindtree Futures, where we have seen 4%(Prov) rise in the Open Interest with the price rising by 4%.
- The stock price has broken out on the daily line chart with higher volumes, to close at all-time high levels
- Plus DI is trading above -DI and ADX line is placed above 25, indicating momentum in the current uptrend
- RSI and MFI oscillators placed above 60 and slopping upwards, indicating strength in the current uptrend
=========================================================
Disclaimer: Nandish Shah is a technical research analyst at HDFC securities. Views expressed are personal
Lot Size: 400
Cost of the strategy: Rs 22 (Rs 8,800 per strategy)
Also Read
Breakeven Point: Rs 3022
Rationale:
- There is a long build-up in Mindtree Futures, where we have seen 4%(Prov) rise in the Open Interest with the price rising by 4%.
- The stock price has broken out on the daily line chart with higher volumes, to close at all-time high levels
- Plus DI is trading above -DI and ADX line is placed above 25, indicating momentum in the current uptrend
- RSI and MFI oscillators placed above 60 and slopping upwards, indicating strength in the current uptrend
=========================================================
Disclaimer: Nandish Shah is a technical research analyst at HDFC securities. Views expressed are personal
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