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Derivative strategy on JSW Steel by HDFC securities

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

Nandish Shah  |  Mumbai 

markets, sebi

Buy JSW STEEL FEBRUARY Future at Rs 282.50

Stop loss: Rs 276

Target: Rs 295


-- Long build up in JSW Steel Futures’ yesterday, where we have seen a rise in Open Interest with a price rise of 3.50%.

-- After forming a double bottom at 257 odd levels earlier this week, stock price reversed northward to close above its 5 and 20 day SMA with higher volumes.

-- Momentum Indicators and Oscillators like RSI and MACD are showing strength in the stock.

-- Metal as a sector seems to be bottomed out and looking good for the short term.

First Published: Fri, February 15 2019. 08:04 IST