Derivatives strategy on Bank Of Baroda by HDFC Securities

Derivatives call on Bank Of Baroda by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:

Buy Bank Of Baroda April 150 Call at Rs 5.50

Stop loss: Rs 4

Target: Rs 9

Rationale:  Long positions being built in Bank Of Baroda Futures today where we have seen open interest addition of 5% with price rise of 5%. In the Option segment 155 and 160 call added 2.16 lakh and 3.64 lakh shares, suggesting more upside from here. It has given breakout on the daily chart today with rise in volumes  where Stock price closes above the resistance level of 145 odd levels. Momentum Indicators and oscillators are Indicating strength in the stock.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.