Business Standard
Web Exclusive

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

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

Nandish Shah  |  Mumbai 

Sell stocks
Sell stocks

Sell September Future at Rs 1285

Stop loss: Rs 1,305


Target: Rs 1,250

Rationale:

-- Short build up is seen in the Futures’ on Thursday, where we have seen rise in Open Interest with 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.

First Published: Fri, September 20 2019. 07:10 IST
RECOMMENDED FOR YOU