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Derivatives strategy on Pidilite Industries by HDFC Securities

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

Vinay Rajani  |  Mumbai 

Mutual funds drive markets to lifetime highs

Buy 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.

First Published: Fri, March 15 2019. 06:48 IST
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