DERIVATIVE PICK

DENA BANK (CASH – Rs.99.50) : The stock is on the verge of an ascending triangle pattern which is bullish by nature. Buying is advised above Rs.101 for a target of Rs.105 and Rs.108. Higher target of Rs.110-112 is also possible. Stop Loss of Rs.93.85 should be kept. The time frame of the trade would be around 12-13 trading days.