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Derivative Strategy on NMDC by HDFC Securities

Devarsh Vakil & Nandish Shah/Mumbai 08 Sep 17 | 08:21 AM

Derivative Strategy on NMDC by Devarsh Vakil & Nandish Shah - PCG Desk at HDFC Securities:


Buy NMDC Sept Future at 137.4

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Stop loss of Rs 134


Target Rs 143


Rationale:


We have seen long positions being built in NMDC futures today where their open interest rose by over 5%. NMDC  has recently raised its product prices by over 8% Momentum Indicators and oscillators are Indicating strength in the stocks Metal as a sector is outperforming since last many months where Nifty Metal Index is trading at six years high

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