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Derivative Strategy for Manappuram Finance by HDFC Securities

Nandish Shah/Mumbai 17 May 19 | 06:50 AM

Buy Manappuram Finance May 125 Call @ Rs 3.25  

Stop loss of Rs 2 

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Target Rs 5.50


Long build up is seen in the Manappuram Finance Futures’ yesterday, where we have seen rise in open interest (OI) with price rising by 0.60 per cent.On the daily charts, the price has broken out, to close at one month high, with higher volumes.The stock is trading above its 5, 20 and 200-day SMA (simple moving average) indicating stock is in uptrend for all the time frames.Oscillators and Momentum indicators like RSI (relative strength index) and MACD (moving average convergence divergence) are showing strength in the stock.

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