Derivatives call on Ujjivan Finance futures by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:
Buy UJJIVAN FINANCE May Future at Rs 407
Stop loss of Rs 398
Target Rs 425
Rationale: We have seen Long positions being built in Ujjivan Finance futures’ today where we have seen 14% Rise in Open Interest with a Price rise of 2%.
After a small correction during the last few days, It resumed its uptrend again today where Stock price closed above 5 and 20-day Simple moving averages with higher volumes
Oscillators like RSI and KST is showing strength in the stock for the short to medium term.
NBFC as a sector is doing well and looking good for the short term.
Disclaimer: The analyst may have positions in the stock mentioned above.