Derivative Strategy on Mahindra & Mahindra by HDFC Securities

December 15
09:16 2017

Derivative Strategy on Mahindra & Mahindra by Devarsh Vakil & Nandish Shah – PCG Desk, HDFC Securities:

Buy Mahindra and Mahindra(M&M) December 1440 call at Rs 23

Stop loss: Rs 17
Target: Rs 35


We have seen long positions being built in M&M futures today where we have seen open interest addition of over 10% with price rise of 1.3%.

For the month of November, M&M reported better monthly numbers where sales grew by 18%, while tractor sales grew by 32%

Short term moving averages are trading above long term moving averages indicating positive trend

Momentum Indicators and oscillators are Indicating strength in the stock

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

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