 "Buy Max Financial Services October Futures, suggests HDFC Securities")
Strategy on Max Finanical Services (MFSL)
Buy MFSL Oct 26 expiry futures at Rs 916.35
Target: Rs 965
Stop Loss: Rs 894
Lot Size: 800
Time frame : Till October expiry
Also Read
Rationale:
Long build up is seen in the MFSL Futures on Thursday where Open Interest rose by 11 per cent (Prov) with the stock rising 3.1 per cent.
Short term trend of the stock turned positive as it closed above its 5 and 11 day-EMA
Short term trend of the stock turned positive as it closed above its 5 and 11 day-EMA
Primary trend of the stock is positive as it is trading above its 50, 100 and 200 day-EMA
RSI Oscillators is sloping upwards and placed above 50 on the daily chart, indicating strength in the stock.
Note : It is advisable to book profit in the strategy when ROI exceeds 20 per cent.
Disclaimer: Nandish Shah is a technical research analyst at HDFC Securities. He or his/her relative or HDFC Securities does not have any financial interest in the subject company.
Disclaimer: Nandish Shah is a technical research analyst at HDFC Securities. He or his/her relative or HDFC Securities does not have any financial interest in the subject company.