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Federal Bank and Bharat Forge rise

Good morning!☕🗞️

Check out the open interest of the NIFTY50, BANK NIFTY and F&O stocks that are making the headlines ⤵️


Options setup (Expiry: 24 August)

NIFTY50 Max Call OI 19,500
NIFTY50 Max Put OI 19,400
Max Pain 19,400
PCR 0.95
BANK NIFTY Max Call OI 44,500
BANK NIFTY Max Put OI 44,000
Max Pain 44,400
PCR 1.34

⭐ Federal Bank shares soar
Shares of the private bank rose 4.1% on Wednesday. And, the open interest of its August futures contract dropped 3.3%, indicating a short covering. Meanwhile, the management has said that it is looking to attract low-cost deposits amid a rise in cost of funds across the banking industry, according to reports.

⭐ Bharat Forge hits 52-week high
Shares of the forging company rose 2.6% yesterday and hit their 52-week high. This comes at a time when the company’s defence arm has bagged two export orders worth ₹850 crore. Meanwhile, the open interest of its August futures contract declined 2.5%, signalling a short covering.


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Categories: F&O