Derivatives strategy on Torrent Pharmaceuticals by HDFC Securities



BUY FEB FUTURE @ Rs 2,090


Stop loss at Rs 2,040



Target of Rs 2,250


Rationale:


— The stock price has registered new all time high with higher volumes


— Higher tops and higher bottoms on the daily and weekly charts


— Stock price is also placed above all important moving average parameters


— Long build-up is seen in the Derivatives Segment


We recommend buying Feb Fut at the current market price, for the upside target of Rs 2,250, keeping stop-loss at 2,040.



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