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Derivative Strategy for Manappuram Finance by HDFC Securities

Nandish Shah, Senior Technical & Derivative Analyst, HDFC securities.

Nandish Shah  |  Mumbai 

markets, buy and sell, shares, revenue, outlook

Buy May 125 Call @ Rs 3.25

Stop loss of Rs 2

Target Rs 5.50

Rationale:

  • Long build up is seen in the Futures’ yesterday, where we have seen rise in (OI) with price rising by 0.60 per cent.
  • On the daily charts, the price has broken out, to close at one month high, with higher volumes.
  • The stock is trading above its 5, 20 and 200-day SMA (simple moving average) indicating stock is in uptrend for all the time frames.
  • Oscillators and Momentum indicators like (relative strength index) and MACD (moving average convergence divergence) are showing strength in the stock.

First Published: Fri, May 17 2019. 06:50 IST
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