Derivatives strategy on Tata Motors by HDFC Securities

Derivative call by Nandish Shah, Senior Technical & Derivative Analyst, HDFC securities

1565368454-2641

 Buy Tata Motors October 125 Call at Rs 7 | Stop loss Rs 4.5 | Target Rs 13

 Rationale:
-- We have seen long build up in the Tata Motor futures’, where we have seen rise in Open Interest with price rising by 6 per cent.
-- Stock price formed bullish engulfing pattern on the daily chart
-- RSI oscillator has formed positive divergence on the daily and weekly chart
-- RSI oscillator has formed positive divergence on the daily and weekly chart.

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