Derivatives call on Divis’s Lab futures
by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:
Buy Divis’s lab May 1200 call at Rs 45
Target Rs 70
Rationale: We have seen long positions being built in Divi’s Lab futures today where we have seen 4% rise in open interest with price rise of 1%. Stock price is trading above its 5,20 and 200 Dma, Indicating positive trend for the short, medium and long-term. Oscillators like RSI is showing strength in the stock for the short to medium term. Divi’s lab has been outperforming for over one year now and Technical and derivative Indicators indicates that out performance is likely to continue for the coming days.