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Derivative strategy on Tata Elxsi by HDFC Securities

Devarsh Vakil & Nandish Shah/Mumbai 06 Oct 17 | 08:20 AM

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


Buy Tata Elxsi October 850 call at Rs 21

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Stop loss of Rs 15

Target Rs 32

Lot size  800


Rationale: 


We have seen long positions being built in Tata Elxsi futures today where open interest is rising by over 10%


Stock price has made a double bottom around 800 levels and now is rising  with good volumes.


Midcap technology stocks have been showing traction since last few days.


It has crossed 5-day simple moving average today with rise in volumes.


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

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