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Derivative strategy on Bajaj Auto by HDFC securities

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

Nandish Shah  |  Mumbai 

algo trading

Buy FEBRUARY FUTURE AT Rs 2,819

Stop loss: Rs 2,790

Target: Rs 2,875

Rationale:

  • Long build up is seen in Futures’ yesterday, where we have seen 1% rise in Open Interest with Price rise of 1%
  • After a running correcting of nearly 5% from the recent high, stock price reversed northward yesterday from the support level of 200 day SMA to close at four day high.
  • Momentum Indicators and Oscillators like RSI and MACD is showing strength in the stock.
  • Stock price is trading above its 5,20 and 200 day simple moving average Indicating bullish trend for the short to medium term.

First Published: Fri, February 22 2019. 06:51 IST
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