Here's a derivative strategy from HDFC Securities for IndusInd Bank

Views on derivative call by Nandish Shah, Senior Technical & Derivative Analyst, HDFC securities.

Sell Indusind Bank September Future at Rs 1285

Stop loss: Rs 1,305

Target: Rs 1,250

Rationale:

-- Short build up is seen in the Indusind Bank Futures’ on Thursday, where we have seen rise in Open Interest with Indusind Bank falling by 3.6 per cent.
 

-- Indusind Bank has broken down on the daily chart where it closes at lowest level since March 2017.
 

-- Stock price has been forming lower top lower bottom on the daily charts.
 

-- It is trading below its 5, 20 and 200 day SMA Indicating weakness in the stock in all time frames.
 

-- Oscillators and Momentum Indicators like RSI and MACD showing weakness in the stock on the daily and weekly charts.