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Derivative Strategy on Nagarjuna Construction by HDFC Securities

Derivative Strategy on Nagarjuna Construction 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 Nagarjuna Construction(NCC) December 125 call at Rs 4.35

Stop loss: Rs 3
Target: Rs 7
 
Rationale:

We have seen long positions being built in futures today where we have seen open interest addition of 6% with price rise of 2%.
 
Stock price has already given breakout on the monthly chart in the month of November and recent mild correction is a buying opportunity
 
Momentum Indicators and oscillators are Indicating strength in the stocks
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Fri, December 08 2017. 08:25 IST
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