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Derivative strategy on ONGC from Motilal Oswal Securities

Positive sector outlook along with unwinding in 290-300 CE, could see stock inching higher towards 320

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Derivative Calls

Sacchitanand Uttekar  |  Mumbai 

Here is ONGC derivative strategy by Sacchitanand Uttekar, Equity Technical Analyst & PFA at Motilal Oswal Securities:

Option Strategy:

ONGC: Ratio Call Spread

Buy: 310 CE 1 lot

Sell: 320 CE 2 lots

Target: 10000

SL: 2500

Rationale:

1. ONGC is in Long- Long Unwinding Cycle

2. Positive sector outlook along with unwinding in 290-300 CE, could see stock inching higher towards 320.

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First Published: Fri, December 09 2016. 08:45 IST
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