Good morning!☕🗞️
Check out the open interest of the companies from the F&O corner that are making headlines ⤵️
Options setup (Expiry: 27 April)
| Nifty50 Max Call OI | 17,700 |
| Nifty50 Max Put OI | 17,700 |
| Max Pain | 17,650 |
| PCR | 0.8 |
| Bank Nifty Max Call OI | 42,500 |
| Bank Nifty Max Put OI | 42,000 |
| Max Pain | 42,000 |
| PCR | 0.7 |
⭐Reliance beats street expectations
₹2,349 ▲2.9 (+0.1%)
The oil-to-telecom conglomerate's net profit beat street estimates, rising 18% YoY to ₹21,327 crore for Q4FY23. Strong performances across all businesses supported the sharp growth in the bottom line. Meanwhile, the OI of its April Futures contract fell 5.6%, indicating a short covering.
⭐Wipro to consider buyback
₹368 ▲5 (+1.4%)
The IT major announced that it will consider the proposal for share buyback on 27 April. The company will also announce its fourth quarter result on the same day. Meanwhile, the OI of its April Futures contract fell 4%, indicating a short covering.
⭐Dr. Reddy's launches generic injection
₹4,876 ▲17 (+0.3%)
The Hyderabad-based pharma major launched its US FDA-approved therapeutic generic version of Remodulin (treprostinil) injection in the US. Meanwhile, the OI of its April Futures contract fell 1.9%, 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.
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