Spin polarized electric current, injected into permalloy (Py) through a nano contact, exerts a torque on the magnetization. The spin waves (SWs) thus excited propagate radially outward. We propose an antidot magnonic crystal (MC) with a three-hole defect (L3) around the nano contact, designed so that the frequency of the excited SWs, lies in the band gap of the MC. L3 thus acts as a resonant SW cavity. The energy in this magnonic crystal cavity can be tapped by an adjacent MC waveguide (MCW). An analysis of the simulated micromagnetic power spectrum, at the output port of the MCW reveals stable SW oscillations. The quality factor of the device, calculated using the decay method, was estimated as Q > 10⁵ for an injected spin current density of $7\times {10}^{12}$ A/m².