 "Trading strategy")
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
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.
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