Derivative Strategy on Mahindra & Mahindra by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities:
Buy Mahindra and Mahindra(M&M) December 1440 call at Rs 23
Stop loss: Rs 17
Target: Rs 35
Rationale:
We have seen long positions being built in M&M futures today where we have seen open interest addition of over 10% with price rise of 1.3%.
For the month of November, M&M reported better monthly numbers where sales grew by 18%, while tractor sales grew by 32%
Short term moving averages are trading above long term moving averages indicating positive
Buy Mahindra and Mahindra(M&M) December 1440 call at Rs 23
Stop loss: Rs 17
Target: Rs 35
Rationale:
We have seen long positions being built in M&M futures today where we have seen open interest addition of over 10% with price rise of 1.3%.
For the month of November, M&M reported better monthly numbers where sales grew by 18%, while tractor sales grew by 32%
Short term moving averages are trading above long term moving averages indicating positive
