Derivatives strategy on Pidilite Industries by HDFC Securities

Derivative strategy on Pidilite Industries by Vinay Rajani -Technical and Derivatives analyst, HDFC Securities.

Buy Pidilite Industries March Future at Rs 1,175

Stop loss: Rs 1,145 

Target: Rs 1,230

Rationale:

• Bullish Inverse head and shoulder breakout on the weekly chart
• Breakout from the price consolidation holding for last 16 weeks
• Long Build up is seen the derivative segment for last couple of sessions
• Primary trend has been bullish and the stock is on the verge on registering new all-time high
• We recommend buying Pidilite March Future at CMP, for the upside target of Rs 1,230.