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F&O strategies for Tata Motors DVR, Tata Steel from Geojit BNP Paribas

Here are a few F&O strategies from Geojit BNP Paribas for today:

F&O strategies for Tata Motors DVR, Tata Steel from  Geojit BNP Paribas
Geojit BNP Paribas Financial Services Kerala
Last Updated : Jun 01 2016 | 9:20 AM IST
Here are a few F&O strategies from Geojit BNP Paribas for trade today:

TATA STEEL FUT

LTP : Rs 336.8

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Action : BUY on dips

Targets : Rs 342 / Rs 347

Stop-loss : Rs 328


Comment : The momentum indicators are reversing from the oversold region. MACD has crossed the signal line and zero line. Volumes have moved above the 10 day average.

TATA MOTORS- DVR 330CE

LTP : Rs 7.4

Action : BUY

Targets : Rs 8.4 / Rs 11.2

Stop-loss : Rs 3.9

Comment
: The underlying had moved above the resistance of 302. The OI has seen significant addition along with price supporting further upmove.

SUN PHARMA

LTP : Rs 13.5

Action : BUY

Targets : Rs 15.05 / Rs 18.35

Stop-loss : Rs 8.75

Comment
: The underlying has cross an important trend line support level of 773 and is hinting at more downside. The OI has seen long addition along with price pointing towards further downside for the stock.


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.

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First Published: Jun 01 2016 | 9:13 AM IST

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