17
Dec
12

NMDC Covered Call

 

Government of India’s recent divestment candidate, NMDC Offer for Sale (OFS) has provided new trading opportunity. Unlike ONGC & Hindustan Copper failure, attractive pricing had ensured that PSU mining giant issue was oversubscribed 1.7 times. Prior to OFS, NMDC stock was hammered down from 180-185 levels in first week of November and came close to its offer price of Rs 149. There are a lot of shorts pending in the stock. After closure of offer, NMDC stock has risen on large volumes. I have bought NMDC future and sold its 170 call. I think stock should easily rise to 170-175 levels in coming month.

 

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