June 19, 2024

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F&O Strategy: Nandish Shah recommends going long on M&M Finance

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By-product Tactic on M&M Finance

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Purchase M&M Finance (30-June Expiry) Future at Rs 187.2&#13

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Large amount Dimensions 4000

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Target: Rs 194

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End Decline: Rs 183

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Rationales:

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    We have observed extended build up in the M&M Finance futures in which we have witnessed 4 per cent addition in Open up Curiosity (Prov) with price tag mounting by .5 for every cent.
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    Shorter expression trend of the M&M Finance is favourable as it is buying and selling higher than its crucial small-expression going averages.
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    Stock cost is on the verge of breaking out from the downward sloping trendline, adjoining the highs of 09-Nov 2021 and 29-April 2022.
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    Momentum Oscillators like RSI(11) and MFI(10) are sloping upwards and put higher than 60, Indicating energy in the current uptrend.
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Disclaimer: Nandish Shah is Complex Research Analyst at HDFC Securities. He isn’t going to hold any place in the stock. Views are personalized.

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First Released: Fri, June 10 2022. 07:46 IST



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