 "Derivative strategy on NMDC by HDFC Securities for today")
Derivative strategy on NMDC by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:
Buy NMDC September 120 CALL @ Rs 2.50
Stop loss: Rs 1.20
Target: Rs 5
Rationale: We have seen Long positions being built in NMDC Futures’ yesterday where Open Interest rises by 2% with Price moving up by 2%.
In the Option segment, NMDC 120 call added 4.74 lakh shares in Open Interest
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The stock price is trading above its important short-term moving averages (5 and 20 day SMA) Indicating a bullish trend for the short and medium term
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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