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Published on 15/07/2019 5:29:55 PM | Source: Choice Broking Pvt Ltd

Option Strategy Tech Mahindra Ltd by Choice Broking

Posted in Broking Firm Views - Short Term Report| #Tech Mahindra Ltd #IT Sector #Trading Report #Choice Broking

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* On an option front, we are seeing Long Builtup in “Out The Money” CE strike price while Short Built Up in “Out of The Money” PE strike price which Indicates positive strength in the counter.

* On a daily chart, the stock has been trading in its “Falling Wedge” & its near to give breakout of its upper band of formation which indicates further upside movement in the counter.

* A daily momentum indicator RSI’s reading is at 33.69 level with positive crossover which points out for a positive breath in the counter

* Based on the above technical structure, we expect a bullish move in TECHM 680 CE.

Recommendation

Buy Tech Mahindra Limited @Options Ran Neeti Stoploss 2.25 Target 14.25 CMP 6.25

 

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