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F&O call: Here's why you should buy SBI Put option for March series

The stock is placed below all important moving averages, which indicates a bearish trend on all time frames, says technical analyst from HDFC Securities

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Vinay Rajani Mumbai
Derivative Stock Strategy (Mar 2023 Expiry)

BUY SBIN March 510 PUT at Rs 6.55
Stop loss: Rs 2
Target: Rs 20

Rationale
  • On March 23, the stock witnessed short build up with OI rising 4 per cent, with a 2 per cent price fall
     
  • The stock price broke below consolidation, which it held for the past five trading sessions
     
  • The stock is placed below all important moving averages, which indicates a bearish trend on all time frames 
Note: We recommend buying SBIN March 510 PUT at CMP, for the upside target of 20, keeping stop-loss at 2.

(Vinay Rajani, Senior Technical and

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First Published: Mar 24 2023 | 8:53 AM IST

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