Derivative Strategy for Manappuram Finance by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities:
Buy Manappuram Finance February 110 call at Rs 2.5
Stop loss: Rs 1.5
Target: Rs 5
Rationale: We have seen long positions being built in Manappuram Finance futures today where we have seen open interest addition of 2% with price rise of 2%. In the option segment, 112.5 and 115 call added 42,000 Shares (117% Rise in Open Interest) and 66,000 Shares (10% Rise in Open Interest) in open interest today suggesting higher possibility of sharp price from here. Recently Stock price has bounced