Derivative Strategy on Torrent Power by HDFC Securities

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Derivative Strategy on Torrent Power by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities:

 

Torrent Power August Future - BUY

CMP: Rs 185

STOP LOSS: Rs 180

TARGET: Rs 193

 

Rationale:  

 

We have seen long positions being built in Torrrent Power futures today. After making double bottom around 170 levels, we have seen accumulation in the stock with rise in the volumes Momentum Indicators and oscillators indicate strength in the stocks. It has reported robust quarterly result couple of days back.

 

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