Derivatives strategy on Torrent Pharmaceuticals by HDFC Securities

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

BUY TORRENT PHARMA FEB FUTURE @ Rs 2,090

Stop loss at Rs 2,040

Target of Rs 2,250

Rationale:

-- The stock price has registered new all time high with higher volumes

-- Higher tops and higher bottoms on the daily and weekly charts

-- Stock price is also placed above all important moving average parameters

-- Long build-up is seen in the Derivatives Segment

We recommend buying Torrent Pharma Feb Fut at the current market price, for the upside target of Rs 2,250, keeping stop-loss at 2,040.