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Derivative strategy on ONGC by HDFC Securities

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

Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers

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 ...