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Derivatives strategy on Tata Steel by HDFC Securities

Derivatives strategy on Tata Steel by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities.

Nandish Shah  |  Mumbai 

Derivatives

Derivatives strategy on by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities:

Buy September 620 @ Rs 18.8

of Rs 14

Rs 28

Rationale: We have seen Long positions being rolled over to the September series in with Open Interest rising by 5% with Price moving up by 2%.

We have seen healthy rollover of 94% as against last three series average rollover of 76%

The stock price is trading above its important short-term moving averages Indicating a bullish trend for the short term

Momentum Indicators and Oscillators like RSI and MACD are also Indicating strength in the stock for the short to medium term.

Disclaimer: The analyst may have a position in the stock mentioned above.

First Published: Fri, August 31 2018. 07:41 IST
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