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Published on 18/04/2019 3:49:52 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 Short Covering in “In the Money” CE strike price and Long Built-up in “Out of the Money” CE strike price while we are seeing Short Built-up position in through out the PE strike price, this type of structure indicate Bullishness movement in the counter.

* On a daily chart, the stock has given breakout of its Upward Rising Channel which confirm that the stock could accelerate its upward movement.

* On a daily scale, a sudden spurt in the volume has been witnessed during trading session which indicates an accentuate buying in the counter.

* Based on the above Technical structure, we expect a Bullish move in TECHM 800CE Option.

Recommendation

Buy Tech Mahindra Ltd @ Option Run Neeti SL 10.50 TGT 34.50 CMP 18.50

 

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