Derivatives strategy on Tata Steel
by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities:
Stop loss of Rs 14
Target Rs 28
We have seen Long positions being rolled over to the September series in Tata Steel
with Open Interest rising by 5% with Price moving up by 2%.
The stock price is trading above its important short-term moving averages Indicating a bullish trend for the short term
Momentum Indicators and Oscillators like RSI and MACD are also Indicating strength in the stock for the short to medium term.
Disclaimer: The analyst may have a position in the stock mentioned above.