Here's a derivative strategy on Bajaj Finance by Nandish Shah of HDFC Sec

The stock price has broken out on the daily chart with higher volumes

stock, market, shares, investment, investors, trading, sensex, growth, technology — Oscillators like RSI and MFI are showing strength in the current uptrend

Nandish Shah Mumbai

1 min read Last Updated : Feb 05 2021 | 8:16 AM IST

Strategy on Bajaj Finance

Buy Bajaj Fin Feb 5,700 Call at Rs 164

Stop-loss: Rs 90

Target: Rs 280

Lot Size: 250

Rationale:

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-- Long build-up was seen in the Bajaj Fin Futures’ where we have seen 16 per cent (Prov) rise in the Open Interest with price rising by 5 per cent.

-- The stock price has broken out on the daily chart with higher volumes

-- Oscillators like RSI and MFI are showing strength in the current uptrend

-- Plus DI is trading above minus DI while ADX line is placed above 20, Indicating momentum in the stock
Disclaimer: Nandish Shah is Technical Research Analyst at HDFC Securities. He doesn't hold any position in the stock. Views are personal.

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