Derivatives strategy on United Breweries by HDFC Securities

Derivatives call on United Breweries futures by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:

Buy United Breweries (UBL) June 1250

Call at Rs 35

Stop loss of Rs 25

Target Rs 50

Rationale:  We have seen Long positions being built in UBL futures today where we have seen sharp Rise in Open Interest with Price rise of 4%.

Stock price has broken out from multiple top resistances, placed at 1200 odd levels.

Short term moving averages are trading above long term moving averages indicating bullish trend for the short to medium term.

Momentum Indicators and Oscillators are showing strength