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Options setup (Expiry: 16 March)
| Nifty50 Max Call OI | 17,500 |
| Nifty50 Max Put OI | 17,000 |
| Max Pain | 17,300 |
| PCR | 0.73 |
| Bank Nifty Max Call OI | 40,500 |
| Bank Nifty Max Put OI | 39,500 |
| Max Pain | 40,000 |
| PCR | 0.51 |
⭐Tech Mahindra rises on leadership change
₹1,134 ▲72 (+6.8%)
Tech Mahindra surged nearly 7% on Monday, while the OI of its March futures contract rose 9.7%, indicating a long build-up. Meanwhile, the call option OI on the 1,150 and 1,160 contracts rose 20% and 9%, respectively. This comes after the IT company appointed former President of Infosys, Mohit Joshi, as its new MD and CEO.
⭐IndusInd Bank slips 7%
₹1,060 ▼84 (-7.4%)
IndusInd Bank shares plummeted more than 7% on Monday, while the OI of its March futures contract rose 13.2%, indicating a short build-up. This comes after the Reserve Bank of India (RBI) approved the reappointment of Mr. Sumant Kathpalia as Managing Director (MD & CEO) for a period of two years, against the board's approval for 3 years.
⭐ICICI Lombard gains on stake sale extension
₹1,081 ▲5 (+0.5%)
Shares of ICICI Lombard bucked the trend and rose in a weak market, while the OI of its March futures contract advanced 2.4%, indicating a long build-up. This development comes after the RBI approved ICICI Bank's request to extend the deadline for divesting its stake in ICICI Lombard until September 2024.
Disclaimer:
Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop-losses. The information is only for consumption by the client and such material should not be redistributed. We do not recommend any particular stock, securities and strategies for trading. The securities quoted are exemplary and are not recommendatory. The stock names mentioned in this article are purely for showing how to do analysis. Take your own decision before investing.
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