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Options setup (Expiry: 16 March)
| Nifty50 Max Call OI | 17,500 |
| Nifty50 Max Put OI | 17,000 |
| Max Pain | 17,200 |
| PCR | 0.70 |
| Bank Nifty Max Call OI | 40,500 |
| Bank Nifty Max Put OI | 39,500 |
| Max Pain | 39,700 |
| PCR | 0.60 |
⭐ONGC falls as crude prices slip
₹153 ▼2 (-1.3%)
Shares of oil-producing companies Oil & Natural Gas Corporation (ONGC) and Oil India fell on Tuesday as the price of Brent Crude fell below $80 a barrel for the first time since early February. Meanwhile, ONGC's March futures contract fell 0.2%, indicating a long unwinding, and the put option OI of the 151 and 150 contracts rose 21% and 25%, respectively.
⭐Lupin gets clean chit from USFDA
₹657 ▲2 (+0.4%)
Shares of the global pharma major closed higher on Tuesday, while the OI of its March futures contract fell 0.6%, indicating a short covering. This comes after the company received no observation certificate from the USFDA following an inspection of its bioresearch centre in Pune.
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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