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Derivative strategy on Jain Irrigation by HDFC Securities

Derivative strategy on Jain Irrigation by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities

Devarsh Vakil & Nandish Shah  |  New Delhi 

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on by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities
 
Buy November 110 call at Rs 4.70

Stop loss: Rs 3
Target: Rs 8

 
Rationale:

We have seen long positions being built in futures today where their open interest rising by over 5%.
 
Stock price has given breakout on the daily chart by closing above the downward sloping trendline resistane of 105 level.
 
In the option segment, 110 call added over 4 lakh shares (25% rise in open interest) and 115 call added over 2 lakh shares(16% rise in open interest), suggesting higher possibility of sharp price from here.
 
Momentum Indicators and oscillators are Indicating strength in the stocks
 
Disclaimer: The analysts may have position in the stock mentioned above.

First Published: Fri, November 03 2017. 08:37 IST
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