The Hindu Business Line : Outlook may turn positive for Dr Reddy's, Hero Honda

Dr Reddy's Labs: The August futures contract closed at 803.50. The outlook may turn positive if the contract trades above 814. The upside target is 860-865. Initiate the position with protective stop at 790. The margin on the futures position is approximately 15 per cent of the contract value. The minimum order size is 200 units. No alternative strategies are available, as options on the stock are not actively traded.

Hero Honda: The August futures contract closed at 606.80. The outlook may turn positive if the contract trades above 607. The upside target is 638-640. Initiate the position with protective stop at 595. The margin on the futures position is approximately 15 per cent of the contract value. The minimum order size is 400 units. No alternative strategies are available, as options on the stock are not actively traded.

HDFC: The August futures contract closed at 891. The outlook may turn positive if the contract trades above 901. The upside target is 925-930. Initiate the position with protective stop at 885. The margin on the futures position is approximately 15 per cent of the contract value. The minimum order size is 300 units. No alternative strategies are available, as options on the stock are not actively traded.

(The opinion expressed in this column is based on technical analysis. There is risk of loss in trading.)

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