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Derivative strategy on NMDC by HDFC Securities for today

Derivative strategy on NMDC by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:

Nandish Shah  |  Mumbai 

BSE, NSE, Markets, SENSEX
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on by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:

Buy September 120 CALL @ Rs 2.50

Stop loss: Rs 1.20

Target: Rs 5

Rationale: We have seen Long positions being built in Futures’ yesterday where rises by 2% with Price moving up by 2%.

In the Option segment, NMDC 120 call added 4.74 lakh shares in Open Interest

The stock price has given a breakout on the daily chart by closing above 114 levels with higher volumes

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.

First Published: Fri, September 07 2018. 06:14 IST
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