Derivative Strategy on Nagarjuna Construction by HDFC Securities

Photo: Shutterstock
Derivative Strategy on Nagarjuna Construction  by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities:

 

Buy Nagarjuna Construction(NCC) December 125 call at Rs 4.35

Stop loss: Rs 3

Target: Rs 7

 

Rationale:

We have seen long positions being built in NCC futures today where we have seen open interest addition of 6% with price rise of 2%.

 

Stock price has already given breakout on the monthly chart in the month of November and recent mild correction is a buying opportunity

 

Momentum Indicators and oscillators are Indicating strength in the stocks

 

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


Outbrain