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Derivative Strategy on South Indian Bank by HDFC securities

Devarsh Vakil & Nandish Shah/Mumbai 29 Sep 17 | 08:13 AM

Derivative Strategy on South Indian Bank by Devarsh Vakil & Nandish Shah - PCG Desk of HDFC securities:

Buy South Indian Bank October 27.5 call

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CMP: Rs 1.70

Stop loss: Rs 1.

Target: Rs 3.50

Lot size:  33141

Rationale:

1.      We have seen long positions being built in South Indian Bank futures today.

2.      It has reached to the support of upward slopping trendline, adjoining the low of 29-March and 11-August 2017.

3.      In the option segment, 27.5, 30 and 32.5 call added 2.65, 9.3 and 4 lakh shares in open interest, suggesting higher possibility of sharp price from here.

Disclaimer: The analysts may have positions in any or all the stocks mentioned above.

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Company Price Gain (%)
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O N G C176.402.80
Tata Steel721.501.43
ICICI Bank266.001.31

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