 "Marico")
Plain Vanilla Option Strategy on MARICO
Buy MARICO FEB 505 CALL at Rs 6.65
Stop Loss: Rs 4
Target: Rs 12
Lot Size: 1000
Rationale:
We have seen long build up in the Marico future where we have seen 3 per cent addition (Prov) in Open Interest with price rising by 1 per cent
The stock price has broken out from the flag pattern on the daily chart.
The short-term trend of the stock is positive as stock price is trading above its 5 and 20 day EMA.
RSI oscillator is placed above 50 and sloping upwards on the daily chart, Indicating strength in the
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