Good morning!☕🗞️
Check out the open interest of the NIFTY50, BANK NIFTY and F&O stocks that are making the headlines ⤵️
Options setup (Expiry: 27 July)
| NIFTY50 Max Call OI | 19,800 |
| NIFTY50 Max Put OI | 19,000 |
| Max Pain | 19,700 |
| PCR | 0.68 |
| BANK NIFTY Max Call OI | 46,000 |
| BANK NIFTY Max Put OI | 46,000 |
| Max Pain | 46,000 |
| PCR | 0.86 |
⭐ ITC shares tumble
Shares of the cigarette-to-biscuit maker fell 4.3% on Monday. This comes after the company announced plans for the demerger of its hotel business. ITC’s decision to hold 40% stake in the new entity could have weighed on the shares, according to experts. Against this backdrop, its July futures’ open interest declined 24.2%, indicating a long unwinding.
⭐ Biocon shares tank
Shares of the pharma company dropped 5.5% yesterday. The open interest of its July futures contract also declined 31.3%, signalling a long unwinding. Meanwhile, Biocon’s Malaysia plant has received eight observations from the US FDA.
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