Good morning!☕🗞️
Check out the open interest of the Nifty50, Bank Nifty and F&O stocks that are making the headlines ⤵️
Options setup (Expiry: 6 July)
| Nifty50 Max Call OI | 19,500 |
| Nifty50 Max Put OI | 19,000 |
| Max Pain | 19,100 |
| PCR | 1.64 |
| Bank Nifty Max Call OI | 44,500 |
| Bank Nifty Max Put OI | 44,500 |
| Max Pain | 44,600 |
| PCR | 1.45 |
⭐ HDFC twins merge
The merger of HDFC Bank and HDFC took place on Saturday. The new combined entity will be the second largest bank in India in terms of assets. Against this backdrop, shares of HDFC Bank rose 1.4% on Friday. And, the open interest of its July futures contract dropped 0.34%, indicating a short covering.
⭐ Infosys shares rise
Shares of Infosys rose 3.4% on Friday. Meanwhile, the open interest of its July futures contract declined 5.9%, signalling a short covering. The management said that the IT company bagged 95 large deals worth $9.8 billion in FY23, of which 40% were net new deals.
⭐ City Union Bank shares rise
Shares of the bank rose 3% on Friday. This comes at a time when the lender said that it plans to raise ₹500 crore through the QIP (Qualified Institutional Placement) route to fund business growth. Against this backdrop, its July futures contract’s open interest rose 7%, indicating a long build up.
Disclaimer:
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