Today Currency Call - 22 April 2020

Today Currency Call - 22 April 2020

US$INR Apr futures contract (NSE)
Buy US$ in the range of 76.75-76.80 Market Lot: US$1000
Target: 76.95/ 77.10 Stop Loss: 76.70

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NSE BUY CALL Cadila Healthcare

The pharma space has come into the limelight in the last couple of weeks after multiple USFDA approvals were observed for Indian pharma companies. We believe the outperformance in this space will continue and current decline in stocks like Cadila Healthcare provides another opportunity to create long positions. Like most stocks, open interest in Cadila also reduced sharply during the profit booking in March. The stock witnessed more than 50% closure in OI since February as it has come down from almost 9 million shares to just 4 million shares at the inception of the April series. In the recent sharp up move, fresh open interest has been added but the total OI is still lower and is at multi-month lows.
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NSE BUY Call- Dabur India

The stock has been a major outperformer during the current market turmoil. It has witnessed a strong recovery in the last three weeks from the major support area of 380-400 being the long term demand line support joining lows since May 2017 and is currently placed at the cusp of registering a fresh all time high above 525 signalling strength and offers fresh entry opportunity. Structurally, the stock has almost completely retraced its entire previous four weeks decline (525-386) in just three weeks. A faster retracement of the last major correcting segment signals strength and a robust price structure.


The material on this site is provided for information purpose only. This associated sites do not accept liability for your use of the materials provided.