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Derivatives strategy on Tata Steel by HDFC Securities

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

Nandish Shah  |  Mumbai 

Derivatives

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

Buy 620 @ Rs 22

of Rs 15

Rs 35

Rationale:

  • We have seen Long roll over in Futures’ where 92% positions being rolled over to the series with Tata steel gained 0.5% in the September series.

  • The stock price has been resilient in the recent market fall and likely to outperform.

  • Metal as a sector looking strong on the charts

  • The stock price is trading above its important short-term moving averages (5 and 20 day SMA) Indicating bullish trend for the short and medium term.

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

First Published: Fri, September 28 2018. 08:22 IST
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