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Derivatives strategy on Tata Motors by HDFC Securities

Derivative call by Nandish Shah, Senior Technical & Derivative Analyst, HDFC securities

Nandish Shah  |  Mumbai 

Markets
Markets

Buy October 125 Call at Rs 7 | Stop loss Rs 4.5 | Target Rs 13

Rationale:

-- We have seen long build up in the Tata Motor futures’, where we have seen rise in Open Interest with price rising by 6 per cent.

-- Stock price formed bullish engulfing pattern on the daily chart

-- RSI oscillator has formed positive divergence on the daily and weekly chart

-- RSI oscillator has formed positive divergence on the daily and weekly chart.

First Published: Fri, October 04 2019. 07:37 IST
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