Don’t miss the latest developments in business and finance.

Derivative strategy for Oil India, Arvind from Geojit BNP Paribas

Here's derivative strategy for Oil India and Arvind from Geojit BNP Paribas in trade today

Derivative  strategy for Oil India, Arvind from Geojit BNP Paribas
Geojit BNP Paribas Financial Services Kerala
Last Updated : Apr 28 2016 | 10:33 AM IST
Here's derivative strategy for Oil India and Arvind from Geojit BNP Paribas in trade today:

OIL INDIA FUT
LTP: Rs 328.9
Action: BUY
Targets: Rs 334 / Rs 338.5

More From This Section

Stop-loss: Rs 321

Comment:
Momentum indicators are showing continuation of uptrend. Broken above the trendline resistance of Rs 325. Volumes have moved above 10D average. Rollover is currently near the 3-month average and the rollover cost is positive and has moved above the last two month level.

ARVIND FUT
LTP: Rs 291.15
Action: BUY
Targets: Rs 295.4 / Rs 298
Stop-loss: Rs 284.5

Comment:
Momentum indicators are showing continuation of uptrend. Broken above the trendline resistance of Rs 280. MACD has moved above the signal lilne and the zero line. Volumes have moved above 10D average. Rollover is currently below the 3-month average and is expected to pick as the rollover cost is showing signs bullishness.

Disclaimer: This report has been prepared by Geojit BNP Paribas Financial Services Limited (GBNPP), here in after referred to as GBNPP. GBNPP, a publicly listed company, is engaged in services of retail broking, credit, portfolio management and marketing investment products including mutual funds, life and general insurance and properties. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this report (including the merits and risks involved). This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions. Opinion expressed herein is our current opinion as of the date appearing on this report only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice.

Also Read

First Published: Apr 28 2016 | 8:58 AM IST

Next Story