Derivative strategy from HDFC Securities: Buy Grasim June Future

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

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Buy GRASIM June Future @ Rs 904 Target: Rs 940  Stop loss: Rs 890  Rationale: Long build up was witnessed in the Grasim Futures on Thursday, where we saw sharp rise in open interest (OI) with price rising by 2 per cent. The stock gave bullish breakout from the upward slopping trendline, adjoining high of May 27 and June 13, 2019. It has formed multiple bottoms around 200-day SMA (simple moving average) during the current June series. Oscillators and Momentum Indicators like relative strength index (RSI) and moving average convergence ...