Derivative Strategy on Tata Elxsi by HDFC securities

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Derivative Strategy on Tata Elxsi by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC securities

 

Buy Tata Elxsi November 925 call at Rs 32.

Stop loss: Rs 24

Target: Rs 50

Lot size: 800

 

Rationale:

 

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

Stock price closed at 52 week high today indicating strength in the stock.

Midcap technology stocks have been showing traction since last few days

Momentum Indicators and oscillators are Indicating strength in the stocks

 

Disclaimer: The analysts may have position in the stock mentioned above.