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Outlook for IndusInd Bank (₹946) will remain positive for both the short and medium-term horizon. As long as the stock trades above ₹812, there is no threat to its positive outlook. It finds immediate support at ₹874 and trades at a crucial level. A conclusive close above ₹948 will trigger a fresh rally in the stock and lift it to ₹1,065.
F&O pointers: IndusInd Bank futures witnessed a modest rollover of 26 per cent to January series.
Most of the rollover appears to be on the long side. Options are not very active.
Strategy: Traders can consider going long on IndusInd Bank January futures. Stop-loss can be placed at ₹927 for a target of ₹972. Stop-loss can be shifted to ₹948 if the stock closes above ₹927 on Monday. Traders with a high-risk appetite can also consider rolling over the position for better returns.
Traders can also consider buying 960 January call option that closed at ₹20. Profit can be booked if the premium hits ₹45. They can consider exiting the position if the premium dips to ₹8.
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