Good morning!☕🗞️
Keep your finger on the pulse with today's options setup and F&O headline makers.
Options setup (Expiry: 2 March)
| Nifty50 Max Call OI | 18,000 |
| Nifty50 Max Put OI | 17,500 |
| Max Pain | 17,600 |
| PCR | 0.80 |
| Bank Nifty Max Call OI | 40,000 |
| Bank Nifty Max Put OI | 40,000 |
| Max Pain | 40,000 |
| PCR | 0.71 |
⭐ONGC's $2 billion drilling plans
₹154 ▲1 (+0.7%)
Shares of state-owned oil and gas producer ONGC rose 0.7% on Thursday, while the OI of its March futures contract advanced 12%, indicating a long build-up. This comes after the company said that it plans to invest $2 billion in drilling 103 wells in the Arabian Sea over the next three years.
⭐Tata Motors plans EV stake sale
₹433 ▲3 (+0.8%)
The shares of Tata Motors ended higher, while the OI of its March futures contract rose 27%, indicating a long build-up. This comes after reports suggested that the company has begun talks with sovereign wealth funds and private equity investors to raise $1 billion via a stake sale in its electric vehicle (EV) business.
⭐NMDC rises on reclaim relief
₹117 ▲1 (+1.2%)
NMDC shares ended higher on Thursday, while the OI of its March futures contract rose 33%, indicating a long build-up. This comes after reports suggested that the Supreme Court allowed the company to reclaim half of the contribution made to Karnataka Mining Environment Restoration Corporation in 2019.
⭐ZEE hit by NCLT woes
₹198 ▼7 (-3.7%)
The shares of Zee Entertainment fell over 3%. The OI of its March futures contract rose 33%, indicating a short build-up. This comes after the Mumbai bench of the National Company Law Tribunal was allowed to initiate insolvency proceedings against the company. The order came on a petition filed by IndusInd Bank.
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.