 "Here's a derivative strategy on Ultratech Cement by HDFC Securities")
Buy ULTRATECH CEMENT MAY 3600 Call at Rs 160
STOP LOSS: Rs 120
TARGET: Rs 225
LOT SIZE: 200
Rationale:
-- Long rollover is seen in the Ultratech Cement Futures’ where we have seen 84 per cent (Prov) rollover to the May series with healthy rollover cost of 0.6 per cent
Also Read
-- The stock price has broken out from the symmetrical triangle on the daily chart by closing above the resistance level of 3,500 with higher volumes.
-- The short-term trend of the stock is positive where the stock is trading above its 5 and 20-day Simple Moving Average (SMA)
-- RSI and MFI Oscillators have formed positive divergence
Disclaimer: Nandish Shah is a Technical & Derivative Analyst at HDFC securities. Views are personal.
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