Buy Pidilite Industries February 1180 call option at Rs 23.25
Stop loss: Rs 16
Target: Rs 35
- We have seen Long build up in Pidilite Futures’ on Thursday as well in the February series till now, where we have seen rise in Open Interst with Price rise of 3.40 per cent.
- Stock Price has broken out above the downward slopping trendline, adjoining the high of December 19, 2018 and January 15,2019, on the daily chart by closing above Rs 1,150 levels.
- After taking the support at 200-day simple moving average (SMA) multiple times in the January month, the stock price has closed above its 5 and 20-day SMA on Thursday, indicating short-term trend has turned bullish.
- Mometum Indicators and Oscillators like relative strength index (RSI) and moving average convergence and divergence (MACD) are also showing strength in the stock.