Derivatives strategy on Tata Steel by HDFC Securities
Derivatives strategy on Tata Steel by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities: Buy Tata Steel September 620 CALL @ Rs 18.8 Stop loss of Rs 14 Target Rs 28 Rationale: We have seen Long positions being rolled over to the September series in Tata Steel with Open Interest rising by 5% with Price moving up by 2%. We have seen healthy rollover of 94% as against last three series average rollover of 76% The stock price is trading above its important short-term moving averages Indicating a bullish trend for the short term Momentum Indicators and Oscillators like RSI and MACD are also Indicating strength in the stock for the short to medium term.
ARTICLE SOURCE: BS