Derivatives Strategy - Positional Future - ICICI Direct

Recommendation

Buy HDFC Ltd April futures at Rs. 2555-2575
Target: Rs. 2751
Stop loss: Rs. 2451
Time frame: Till April expiry

Rationale

Stocks from the baking and financials space remained laggards. Few of them saw formation of fresh short positions as the market weakened due to anticipation of fresh lockdown.

However, a leader like HDFC Ltd continued to witness closure of open interest for the last few months. The stock managed to gain delivery based volumes near Rs. 2480-2500 levels.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_DerivativesStrategy_HDFCLtd_Apr21.pdf

Source : Equity Bulls

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