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Derivatives strategy on SREI Infra by HDFC Securities

Derivatives call on SREI Infra by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:

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Nandish Shah New Delhi
Derivatives call on SREI Infra by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:
 
Buy: Srei Infra March 75 Put at  Rs 1.50
Stop loss: Rs 0.80
Target: Rs 3
 
Rationale: Short positions being built in Srei Infra futures today where we have seen open interest addition of 2% with price fall of 5%.
Stock Price is forming bearish lower top lower bottom formation on the daily chart Since July 2017
Stock price has given break down on the daily chart by closing below the downward sloping trendline support of 78 level.
Stock Price is trading below its

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