Good morning!☕🗞️
Check out the open interest of the companies from the F&O corner that are making headlines ⤵️
Options setup (Expiry: 29 March)
| Nifty50 Max Call OI | 17,000 |
| Nifty50 Max Put OI | 17,000 |
| Max Pain | 17,000 |
| PCR | 0.68 |
| Bank Nifty Max Call OI | 40,000 |
| Bank Nifty Max Put OI | 39,500 |
| Max Pain | 39,500 |
| PCR | 0.87 |
⭐Reliance launches cheapest broadband plan
Reliance: ₹2,248 ▲ 10 (+0.4%)
Ahead of the IPL 2023, Reliance Jio has launched a new broadband monthly plan for ₹198. Intensifying the tariff war, the company has slashed the entry-level tariffs by half. Against this backdrop, the shares of Reliance rose nearly half a percent, while the OI of its April Futures contract rose 32%, indicating long build-up. The OI of the call options at the 2,260 and 2,280 strikes on 27 April rose by 21% and 10%, respectively.
⭐Gas distributors’ shares rise
IGL: ₹437 ▲ 6 (+1.5%)
Shares of the major city gas distributors – Mahanagar Gas (+2%), Indraprastha Gas (+1%) closed in the green on Tuesday. This comes after reports suggested that the government may put a price ceiling on the price of locally produced gas at $6.5 per MMBtu from April 1. Experts believe this will lead to a 24% fall in domestic gas prices and protect gas companies as well as consumers from volatile global gas prices. Against this backdrop, the OI of the Indraprastha Gas April futures contract rose 54%, indicating a long build-up.
⭐UPL promoters raise stake
UPL: ₹714 ▲ 14 (+2.0%)
Shares of UPL closed 2% higher on Tuesday after the company's promoters further increased their stake, taking their total holding to over 32% as of March 2023. Meanwhile, the OI of its April Futures contract rose 22%, indicating long build-up.
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.
Download the Upstox App Today