Derivative strategy on NCC by HDFC Securities

Derivative strategy on NCC by Vinay Rajani, Technical & Derivatives Analyst, HDFC Securities:

BUY NCC JAN FUTURE @ Rs 89.90

Stop loss of Rs 87

Target Rs 95

Rationale: Primary trend of the stock has been bullish. During the recent running correction, the stock has found support on the upward sloping trend line on the daily charts. Moving average and Oscillator setup is bullish on short to medium term charts. Higher tops and higher bottoms on the daily chart is well intact.

We recommend buying NCC Jan Fut at CMP, for the upside target of 95, keeping a stop loss at 87.

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