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Derivative strategy on Divi's Lab by HDFC Securities

Nandish Shah/Mumbai 11 Jan 19 | 06:29 AM

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Derivative strategy on Divi's Lab by Nandish Shah, Senior Technical & Derivatives Analyst at HDFC Securities

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Buy Divi's Lab JANUARY Future at Rs 1525 

Stop loss: Rs 1,505 

Target: Rs 1,555


Rationale:


-- The long build-up is seen in Divi's Lab Futures’ yesterday where we have seen Rise in Open Interest with a price rise of 3%.

-- The stock price has given a breakout on the daily chart by closing above the 1495 level on the daily charts.

-- Divi’s Lab is trading above its  5,20  and  200  day SMA, Indicating bullish trend for the short to medium term.

-- The stock price is making bullish higher top higher bottom formation on the daily charts since June 2017.

-- Momentum Indicators and Oscillators are also  Indicating strength in the stock for the short to medium term.


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