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Derivative strategy on ONGC by HDFC Securities

Derivative strategy on ONGC by Nandish Shah, Assistant Vice President, PCG, HDFC Securities

Nandish Shah  |  Mumbai 

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Buy APRIL 160 CALL at 2.30
Stop loss of Rs 1.40
Target Rs 4


  • Long build up is seen in the 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

First Published: Mon, April 22 2019. 08:27 IST