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Option strategy on NCC by HDFC Securities

Momentum Indicators and oscillators are suggesting strength in the stock

Devarsh Vakil & Nandish Shah  |  Mumbai 

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Derivative Strategy pick by Devarsh Vakil & Nandish Shah of PCG Desk, HDFC securities:
 
Buy (Nagarjuna Construction) October 95 call at Rs 1.50


Stop loss: Rs 0.80

Target: Rs 3

Lot size:  8,000 shares

 
Rationale:

We have seen long positions being built in futures today where Open interest rising by 5% with price rising by 5%.

Stock Price has given break out from the downard sloping trendline, adjoining the high of 17-May-2017 and 14-Sep-2017

In the option segment, 95 and 100 call added signifanct shares in Open Interest.     

Momentum Indicators and oscillators are suggesting strength in the stock
 
Disclaimer: The analysts may have position in the stock mentioned above.

First Published: Mon, October 23 2017. 08:08 IST
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