Derivatives Strategy - Covered Call - ICICI Securities

Recommendation

Buy HDFC Ltd June future at Rs. 1790-1810 & sell 1850 Call at Rs. 55-65
Target: Rs. 1910
Stop loss: Rs. 1705
Time frame: Till June expiry

Rationale

A sharp move with broad based buying was seen in the Nifty, which pulled it towards 10200. Most heavyweights participated from the bottom with HDFC Ltd no exception.

HDFC moved from Rs. 1500 to Rs. 1800 levels. Then it consolidated for a couple of weeks with Rs. 1800 acting as a supply area

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_DerivativesStrategy_HDFCLtd_Jun20.pdf

Shares of HOUSING DEVELOPMENT FINANCE CORP.LTD. was last trading in BSE at Rs.1761.65 as compared to the previous close of Rs. 1766.3. The total number of shares traded during the day was 527197 in over 21952 trades.

The stock hit an intraday high of Rs. 1818.05 and intraday low of 1748.75. The net turnover during the day was Rs. 939951221.

Source : Equity Bulls

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