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 | 20,000 |
| NIFTY50 Max Put OI | 19,700 |
| Max Pain | 19,750 |
| PCR | 0.75 |
| BANK NIFTY Max Call OI | 46,000 |
| BANK NIFTY Max Put OI | 46,000 |
| Max Pain | 46,000 |
| PCR | 0.91 |
⭐ PNB shares soar
Shares of the lender surged 4.1% yesterday. This comes after the state-owned bank reported a 307% YoY rise in the net profit in the June quarter, driven by a fall in provisioning for bad loans and robust net interest income growth. In the light of this, the open interest of its July futures contract dropped 79.5%, indicating a short covering.
⭐ Vodafone Idea shares surge
Shares of the telecom service provider rose 14.5% on Wednesday. Vodafone Idea and Adani Group have reportedly approached the Department of Telecommunications to extend the 5G rollout deadline of 16 August 2023. Meanwhile, Vodafone Idea July futures’ open interest declined 21.9%, signalling 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.
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