Buy Hindunilver May 2300 CE @ 21-24, SLOSS AT 5, TRGT 54 - Religare Broking
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Derivative Ideas
HINDUNILVR gained 2.07% and closed at 2291.4 on 18th May. Broadly the stock has been trading in a channel. Now the stock after seeing a shortfall which itself suggests the anxiousness of the bulls gave a good up move. The move happened with incremental volumes and Fresh Longs seen in its FUTS. Closing above its long term MAs, HINDUNILVR is poised to see higher levels. We thus suggest creating Longs with the CE option as the recommended levels.
Strategy:- BUY HINDUNILVR MAY 2300 CE @ 21-24, SLOSS AT 5, TRGT 54
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