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Derivatives strategy on Hero MotoCorp by HDFC Securities

Derivative strategy by Nandish Shah, Senior Technical & Derivative Analyst, HDFC Securities.

Nandish Shah  |  Mumbai 

Hero Moto
Hero Moto

Buy Hero Moto Corp

September 2650 Call @ Rs 63


Stop loss: Rs 40

Target: Rs 100

Lot Size:200

Rationale:

-- Long build up is seen in the Hero Moto Corp Futures’ yesterday, where we have seen rise in Open Interest with price rising by 1.70%.

-- Stock price has broken out from the flag pattern on the daily line chart.

-- After a consolidation for the last five days, Stock price has given breakout on the daily charts yesterday by closing at highest level since 23-August.

-- Oscillators and Momentum Indicators like RSI and MACD showing strength in the stock on the daily and weekly charts.

First Published: Fri, September 06 2019. 06:38 IST
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