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Option strategy on NCC by HDFC Securities

Devarsh Vakil & Nandish Shah/Mumbai 23 Oct 17 | 08:08 AM

Derivative Strategy pick by Devarsh Vakil & Nandish Shah of PCG Desk, HDFC securities:

Buy NCC (Nagarjuna Construction) October 95 call at Rs 1.50

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Stop loss: Rs 0.80

Target: Rs 3

Lot size:  8,000 shares

Rationale:

We have seen long positions being built in NCC futures today where Open interest rising by 5% with price rising by 5%.

Stock Price has given break out from the downard sloping trendline, adjoining the high of 17-May-2017 and 14-Sep-2017

In the option segment, 95 and 100 call added signifanct shares in Open Interest.     

Momentum Indicators and oscillators are suggesting strength in the stock

Disclaimer: The analysts may have position in the stock mentioned above.

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