Business Standard

Wednesday, December 25, 2024 | 11:56 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Derivatives strategy by Nandish Shah of HDFC Sec: Buy Siemens Dec Futures

Stock price has broken out on the daily chart by closing above the resistance level of 1,520 with higher volumes

Derivative Trading
Premium

Derivative Trading

Nandish Shah Mumbai
Buy SIEMENS DECEMBER Future at Rs 1,531

Stop Loss: Rs 1,505 

Target: Rs 1,575

Lot Size: 550.

Rationale:
  1. We have seen Long build up in the Siemens Futures where we have seen rise in Open Interest with price rising by 1.5 per cent.
     
  2. Stock price has broken out on the daily chart by closing above the resistance level of 1,520 with higher volumes
     
  3. Stock price is trading above its 5, 20 and 200 day SMA, indicating positive trend for all the time frames
     
  4. Stock price has formed multiple bottoms around 1,450 levels
     
  5. Momentum Indicators and Oscillators like RSI

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in