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Derivative strategy on Mahanagar Gas by HDFC Securities

Derivative strategy on Mahanagar Gas by Nandish Shah, Senior Technical & Derivatives Analyst at HDFC Securities.

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Derivative strategy on Mahanagar Gas by Nandish Shah, Senior Technical & Derivatives Analyst at HDFC Securities Buy Mahanagar Gas January Future at Rs 898 Stop loss: Rs 882 Target Price: Rs 925 Rationale: Long build up was seen in Mahanagar Gas (MGL) Futures on Wednesday where we saw a rise in the open interest (OI) with price rise of 2.3 per cent. After taking support around 200-day simple moving average (SMA), the stock price resumed its uptrend with higher volumes. It is making higher top higher bottom formation on the daily ...