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Derivatives strategy for State Bank of India by HDFC Securities

The stock price is also placed above all important moving average parameters

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Derivatives strategy | State Bank of India | Markets

Vinay Rajani  |  Mumbai 

The stock has long build up of more than 25% in the July Series
The stock has long build up of more than 25% in the July Series

BUY SBI JULY FUT @ Rs 200.7

Stop loss of Rs 195

Target Rs 210

Rationale:

  • Symmetrical Triangle Breakout with the higher volumes on the daily chart
  • Higher tops and higher bottoms on hourly and daily chart
  • The stock has long build up of more than 25% in the July Series
  • The stock price is also placed above all important moving average parameters
  • Indicators and Oscillators are showing bullish signs
  • We recommend buying SBI July Fut at CMP, for the upside target of 210, keeping Stoploss at 195.
===================== Disclaimer: Vinay Rajani is Technical Research Analyst at HDFC Securities.

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First Published: Fri, July 10 2020. 08:10 IST