You are here: Home » Markets » F&O
Business Standard
Web Exclusive

Derivative strategy for Karnataka Bank by HDFC Securities

Derivative strategy for Karnataka Bank by Nandish Shah, Assistant Vice President, PCG, HDFC Securities

Nandish Shah  |  Mumbai 

Tata Investment Corp board approves Rs 4.5-billion share buyback

Buy June 105 Put @ Rs 3

Stop loss: Rs 1.50

Target: Rs 7

Rationale:

  • Short build up is seen in the Futures’ yesterday, where we have seen sharp rise in with price falling by 5.70 per cent.
  • The stock has given bearish head and shoulder pattern breakdown on the daily chart by closing below the neckline support of Rs 109 levels with higher volumes.
  • Oscillators and Momentum indicators like relative strength index (RSI) and moving average convergence divergence (MACD) showing weakness in the stock on the weekly charts.
  • It is trading below its 5, 20 and 200 day simple moving average (SMA) Indicating stock is in downtrend for all the time frames.

First Published: Fri, June 07 2019. 07:06 IST
RECOMMENDED FOR YOU