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Derivative strategy on ACC by HDFC Securities

Nandish Shah/Mumbai 12 Apr 19 | 08:05 AM

Buy ACC APRIL FUTURE @ 1682 


Stop loss of Rs 1,664 

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Target Rs 1,715


Rationale:


Long  build  up is seen in the ACC Futures’ yesterday where we have seen rise in Open Interest with price rising by 2.40%.Stock price has broken out on the daily chart by closing above the resistance level of 1665 with higher volumes.Stock  price  is  trading  above  its  5,  20 and 200 day SMA, Indicating stock is in uptrend for the short to medium term.Oscillators and Mometum Indicators like RSI and MACD have turned bullish on daily and weekly charts.

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