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Derivative Strategy on IDFC by HDFC Securities

Momentum Indicators and oscillators are suggesting strength in the stocks

Devarsh Vakil & Nandish Shah  |  New Delhi 

Photo: Shutterstock
Photo: Shutterstock

pick by Devarsh Vakil & Nandish Shah of PCG Desk, HDFC securities:
 
Buy 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 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 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.

First Published: Fri, October 27 2017. 08:12 IST
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