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

Derivative strategy from HDFC Securities: Buy Britannia September Futures

Views on derivative call by Nandish Shah, Senior Technical & Derivative Analyst, HDFC securities.

Nandish Shah  |  Mumbai 

Tata Investment Corp board approves Rs 4.5-billion share buyback

Buy Britannia September Future at Rs 2,673

Stop Loss of Rs 2,630

Target: Rs 2,750

Lot Size: 200

Rationale:

  • Accumulation of Long build up is seen in the Britannia Futures’ in the September series till now, where we have rise in open interest (OI) with price consolidation;
  • Stock has formed bullish hammer pattern on the weekly charts for the week ending August 23;
  • It is consolidating near 50-day simple moving average (SMA) after sharp rise during the fag-end of August; &
  • Oscillators and Momentum indicators like RSI and MACD showing strength in the stock on the daily and weekly charts.

First Published: Fri, September 13 2019. 08:03 IST
RECOMMENDED FOR YOU