You are here: Home » Markets » F&O
Business Standard

Derivatives strategy on UPL by HDFC Securities

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

Nandish Shah  |  Mumbai 

Markets, Buy, Sell, Stocks, Shares
Photo: Shutterstock.com

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

Buy Future at Rs 651

of Rs 638

Rs 675

Rationale: Accumulation of Long positions is seen in the Futures’ during the series till now, where we have seen 8% rise in Open Interest with the price rising by 2%

The stock price is trading above its all-important short-term moving averages (5 and 20 DMA) Indicating a bullish trend for the short term

The stock price is making bullish higher top higher bottom formation on the weekly line chart

Oscillators are also Indicating strength in the stock for the short to medium term

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

First Published: Fri, August 24 2018. 06:05 IST
RECOMMENDED FOR YOU