Good morning!☕🗞️
Check out the open interest of the Nifty50, Bank Nifty and F&O stocks that are making the headlines ⤵️
Options setup (Expiry: 8 June)
| Nifty50 Max Call OI | 18,600 |
| Nifty50 Max Put OI | 18,500 |
| Max Pain | 18,600 |
| PCR | 0.84 |
| Bank Nifty Max Call OI | 44,200 |
| Bank Nifty Max Put OI | 44,000 |
| Max Pain | 44,100 |
| PCR | 0.94 |
⭐Persistent faces selling pressure
Shares of the IT company declined 4% yesterday. This comes after EPAM Systems, an US-based software engineering services company, reduced its revenue guidance for the second time in the past five weeks. In light of this, the open interest of Persistent Systems’ June futures contract increased 9.1%, indicating a short build-up.
⭐IEX shares decline
Shares of the power trading platform were down 3% on Tuesday as IEX reported that the average spot power price on its exchange dropped 30% YoY to ₹4.74 per unit in May. The management attributed this to improving supply and cooler weather conditions. Meanwhile, its June futures contract’s open interest increased around 10.4%, signalling a short-build up.
⭐HAL shares soar
Shares of the aerospace company rose 4.1% on Tuesday amid strong investor interest in defence companies. Experts said that the sector is witnessing a structural shift with the government increasing allocation for procurement of domestic defence platforms and equipment. Against this backdrop, the open interest of its June futures contract rose 2.8%, signalling long build-up.
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.