Long build up is seen in the Bharat forge Futures
Bull spread Strategy on Bharat Forge
Buy Bharat Forge
Dec 550 Call at Rs 23.5 & simultaneously sell Dec 580 Call at Rs 13.5
Cost of the strategy Rs 10 (Rs 15000 per strategy)
Maximum profit Rs 30000 If Bharat Forge
closes at or above 580 till 31 Dec expiry.
Breakeven Point Rs 560
Long build up is seen in the Bharat forge
Futures’ where we have seen 9 per cent rise in the Open Interest with price rising by 5 per cent.
The stock price has broken out on the daily chart with higher volumes where it closed at two-year high.
Primary trend of the stock is positive where stock price is trading above all important moving averages.
Oscillators like RSI and MFI are showing strength in the stock
Moreover, DI is trading above minus DI while ADX is placed above 25, Indicating strength in the current uptrend.