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Derivative strategy on Escort by Nandish Shah, Senior Technical & Derivatives Analyst at HDFC Securities
Buy ESCORTS December Future at Rs 698
Stop loss: Rs 685
Target: Rs 720
Rationale:
We have seen Long build up in Escorts Futures’ yesterday where we have seen 6% Rise in Open Interest with Price rise of 2%
We have seen a strong rollover of 93% to the December series as against the last series rollover of 90%
After taking support at 5 day SMA, the stock price has given breakout on the daily charts by closing above the resistance level of 690 to close at
