Derivative Strategy pick by Devarsh Vakil & Nandish Shah of PCG Desk, HDFC securities: Buy IDFC November 65 call at Rs 3.70 Stop loss: Rs 2.5 Target: Rs 7 Lot size: 13,200 shares Rationale: 1. We have seen long positions being built in IDFC futures today where Open interest rising by sharply with price also rising by 4.5% 2. We have seen healthy rollover of above 70% in the IDFC Future to the November series 3.
Stock Price has given break out on the daily chart with sharp rise in volumes 4. In the option segment, 65 and 70 call added significant shares in Open Interest 5. Momentum Indicators and oscillators are suggesting strength in the stocks Disclaimer: The analysts may have position in the stock mentioned above.