F&O Technique: Here is Why Nandish Shah Recommends Bull Unfold on Axis Financial institution


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HDFC Securities Technical Analyst recommends Axis Financial institution 640 Name as purchase in addition to promote 650 Name for July finish.

Topic
F&O Methods | Derivatives Technique | axis Financial institution


Nandish Shah |
Mumbai





Bull Unfold Technique on Axis Financial institution

Axis Financial institution (28-July Expiry) Purchase 640 Name for Rs.20 Additionally Promote 670 Name for Rs.8.80

lot measurement 1,200

Technique price Rs 11.2 (Rs 13,440 per technique)

Most revenue of Rs 22,560 if Axis Financial institution closes at Rs 670 or extra on the finish of July 28.

Break Even Level Rs 651.2


Logic:

  • We now have seen a protracted construct up in Axis Financial institution futures, the place we now have seen a 20 per cent improve in Open Curiosity (PROV) and a 2 per cent improve in worth.
  • The inventory worth made a number of bottoms close to the Rs 622 degree.
  • On June 23, the inventory worth shaped a Doji candle stick sample, indicating a potential development reversal after a protracted downtrend.
  • The RSI oscillators are rising after forming a constructive divergence on the each day chart.


Disclaimer: Nandish Shah is a Technical Analysis Analyst at HDFC Securities. He doesn’t maintain any place within the inventory. Ideas are private.


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First printed: Fri, 01 July 2022. 07:41 IST



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