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Derivatives strategy on UltraTech Cement by HDFC Securities

Derivatives strategy on Ultra Tech Cement by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities

Photo: Shutterstock.com
Photo: Shutterstock.com

Derivatives strategy on Ultra Tech Cement by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities: Buy Ultra Tech Cement July Future at Rs 3,924 Stop loss: Rs 3,840 Target: Rs 4,050 Rationale:  We have seen Long positions being built in Ultra tech futures’ yesterday where We have seen sharp Rise in Open Interest with Price rise of 3% Stock price has given breakout on the daily chart by closing above the resistance level of 3850 level with rise in Volumes Momentum Indicators and Oscillators like RSI and MACD are Indicating ...