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Derivative strategy on ACC by HDFC Securities

Derivative strategy on ACC by Nandish Shah, Assistant Vice President, PCG, HDFC Securities.

Nandish Shah  |  Mumbai 

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Buy ACC APRIL FUTURE @ 1682

Stop loss of Rs 1,664

Target Rs 1,715

Rationale:

  • Long build up is seen in the ACC Futures’ yesterday where we have seen rise in Open Interest with price rising by 2.40%.
  • Stock price has broken out on the daily chart by closing above the resistance level of 1665 with higher volumes.
  • Stock price is trading above its 5, 20 and 200 day SMA, Indicating stock is in uptrend for the short to medium term.
  • Oscillators and Mometum Indicators like RSI and MACD have turned bullish on daily and weekly charts.

First Published: Fri, April 12 2019. 08:05 IST
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