Derivative Strategy pick on Hindustan Construction by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities:
Buy Hindustan Construction (HCC) January 42.5 call at Rs 2.5 Stop loss of Rs 1.70 Target Rs 4
We have seen long positions being built in HCC futures on Thursday where we have seen open interest addition of 9% with price rise of 3%.
In the option segment, 42.5 and 45 call added 1.50 lakh(11%) and 2.55 lakh(9%) shares in open interest suggest higher possibility of sharp price from hereon.
Infrastructure as a sector is doing well and looking good for the short to medium term levels.
Momentum Indicators and oscillators are indicating strength in the stock.
Disclaimer: The analysts may have positions in the stock mentioned above.