By Amit Gupta ICICI Securities
Buy Castrol May 450 Call at 5-6: Target: 14| Stoploss: 2| Time Frame: till May expiry
a) Castrol has been consolidating since February 2017 when it had made an intermediate high of 438. Since then, it mostly remained below 438. Only towards the end of April, it gave a convincing move above these levels.
b) Looking at the closure of short positions, it seems it could be the stock for this expiry. We recommend buying 450 Call option of the stock. The delta of this Call option is at 0.37. The closure was seen in the short positions at this strike.
Disclaimer: The author is Head of Derivative from ICICI Securities. The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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