Derivative Strategy on Nagarjuna Construction by HDFC Securities

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.