Good morning!☕🗞️
Check out the open interest of the NIFTY50, BANK NIFTY and F&O stocks that are making the headlines ⤵️
Options setup (Expiry: 3 August)
| NIFTY50 Max Call OI | 19,800 |
| NIFTY50 Max Put OI | 19,600 |
| Max Pain | 19,650 |
| PCR | 0.62 |
| BANK NIFTY Max Call OI | 45,500 |
| BANK NIFTY Max Put OI | 45,500 |
| Max Pain | 45,500 |
| PCR | 0.68 |
⭐ IEX shares rise on strong Q1 results
Shares of the power trading exchange rose around 3% on Friday. This comes after it reported a 9.7% YoY rise in its net profit in the June quarter, supported by a 12.3% increase in revenue. In the light of this, Indian Energy Exchange (IEX) August futures contract’s open interest declined 3.6%, signalling a short covering.
⭐ IDFC First Bank’s Q1 profit surges
On Saturday, the private bank announced that its net profit soared 61% YoY in Q1FY24, driven by a strong growth in operating income. Meanwhile, on Friday, shares of IDFC First Bank rose 1.7% and the open interest of its August futures contract dropped 5.7%, indicating a short covering.
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