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Derivative Strategy pick by Devarsh Vakil & Nandish Shah of PCG Desk, HDFC securities:
Buy NCC (Nagarjuna Construction) October 95 call at Rs 1.50
Stop loss: Rs 0.80
Target: Rs 3
Lot size: 8,000 shares
We have seen long positions being built in NCC 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.