Derivative Pick Syndicate Bank
Syndicate Bank added around 1.00% in open interest as fresh long short build up. Bottom out pattern seen in it. Recent low of 61.00 will be a crucial support in it. If unable to breach it then we will see sharp upside rally in it.
Hurdle at 64.50 Break and sustain above 64.50 will take it to 70.00—72.00 and then to 76.00++ mark.
Three consecutive close + weekly close above 76.00 will see upside rally till 80.00++ mark in days to come.
Support and stop loss below 61.00
Trading Recommendation
Option trades can Buy Syndicate Bank 65.00 CE above 2.00 with stop loss of 0.50 Target 6.00—8.00
More will update soon !!
