Cost of the strategy: Rs 1.5 (Rs 8400 per strategy)
Maximum profit: Rs 19,600 if L&T Finance
closes at or above Rs 70 on June expiry
Break-even Point: Rs 66.5
Long build up is seen in the L&T Finance
Futures’ where we have seen 17%(Prov) rise in the Open Interest with price moving up by 4.5 per cent.
The stock price has broken out on the daily chart where it closes at highest level since April 30 with higher volumes.
The short term trend of the stock is positive where it is trading above its 5 and 20-day SMA.
RSI Oscillators(11) is placed over 60 level while +DI is trading above -DI Indicating bullish set up for the stock