 "F&O strategies for Adani Power, Bharat Forge from Geojit BNP Paribas")
Here are derivative strategies for some mid-cap stocks from Geojit BNP Paribas in trade today:
ADANI POWER FUTURES
LTP: Rs 34.05
Action: SELL
Targets: Rs 32.8 / 30
Comment: The momentum oscillators have started to come off the overbought zone and is indicating more selling. MACD is showing divergence and hinting at possible reversal.
BHARAT FORGE FUTURES
LTP: Rs 833.55
Action: SELL on rise
Targets: Rs 820 / Rs 804
Stop-loss: Rs 855
Comment: Stochastics and RSI indicators are coming off the overbought zone and are supporting the continuation of the downtrend. MACD has cut the signal line from above and is hinting at more downside.
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.
ADANI POWER FUTURES
LTP: Rs 34.05
Action: SELL
Targets: Rs 32.8 / 30
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Stop-loss: Rs 36
Comment: The momentum oscillators have started to come off the overbought zone and is indicating more selling. MACD is showing divergence and hinting at possible reversal.
BHARAT FORGE FUTURES
LTP: Rs 833.55
Action: SELL on rise
Targets: Rs 820 / Rs 804
Stop-loss: Rs 855
Comment: Stochastics and RSI indicators are coming off the overbought zone and are supporting the continuation of the downtrend. MACD has cut the signal line from above and is hinting at more downside.
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.