Buy ONGC APRIL 160 CALL at 2.30Stop loss of Rs 1.40Target Rs 4
Home / Markets / News / Derivative strategy on ONGC by HDFC SecuritiesDerivative strategy on ONGC by HDFC SecuritiesDerivative strategy on ONGC by Nandish Shah, Assistant Vice President, PCG, HDFC Securities premium Nandish Shah Mumbai 1 min read Last Updated : Apr 22 2019 | 9:08 AM IST Buy ONGC APRIL 160 CALL at 2.30 Stop loss of Rs 1.40 Target Rs 4 Rationale: Long build up is seen in the ONGC Futures’ in April series till now, where we have seen 7% rise in Open Interest with price rising by 3% Stock price has broken out on the weekly chart by closing above the resistance level of 160 Stock price is trading above its 5, 20 and 200 day SMA, Indicating stock is in uptrend for the short to medium term Oscillators and Mometum Indicators like RSI and MACD have turned bullish on weekly charts
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