Derivatives Strategy - Protective Future - ICICI Direct

Recommendation

Mahindra & Mahindra

Rationale

After outperforming for a major part of 2022, auto stocks witnessed fresh short additions as the Nifty fell almost 1400 points since mid-February. However, with a recovery, auto stocks also reverted from lower levels with Mahindra & Mahindra (M&M) reverting sharply from its Put base.

M&M saw formation of short positions in the past few weeks due to which the OI in the stock rose to a one year high. As the stock reverted from Rs. 700 levels, we saw closure in Call writing positions.

For details, click on the link below:

Link to the report

Source : Equity Bulls

Keywords

DerivativesStrategy Futures ICICIDirect MahindraandMahindra