Cost of the strategy Rs 2.7 (Rs 18090 per strategy)
Maximum profit Rs 48910 If NMDC
closes at or above 100 till August expiry.
o Breakeven Point Rs 92.7
Long build up is seen in the NMDC
Futures’ where we have seen 3%(Prov) rise in the Open Interest with Price moving up by 1.3%.
Stock price has broken out on the daily chart where it closed at highest levels since 22-June
Short term trend turned positive as NMDC has closed above its 5 and 20-day SMA
Oscillators like RSI & MFI are showing strength in the stock
+DI is trading above Minus DI on the daily chart, indicating bulls are having an upper hand
Disclaimer: Nandish Shah is Technical Research Analyst at HDFC Securities. He or HDFC Securities Ltd. does not have any financial interest in the subject company. The analyst, currently, doesn't hold any position in the stocks.