Good morning!☕🗞️
Check out the open interest of the companies from the F&O corner that are making headlines ⤵️
Options setup (Expiry: 25 May)
| Nifty50 Max Call OI | 18,500 |
| Nifty50 Max Put OI | 18,200 |
| Max Pain | 18,250 |
| PCR | 1.1 |
| Bank Nifty Max Call OI | 44,000 |
| Bank Nifty Max Put OI | 44,000 |
| Max Pain | 43,800 |
| PCR | 0.8 |
⭐TCS bags ₹15,000 deal
₹3,298▲ 75 (+2.3%)
TCS surged over 2% on Monday after the company announced that it received an Advance Purchase Order (APO) for over ₹15,000 crore from BSNL. Meanwhile, the open interest of its May futures contract dropped 28.6%- indicating short covering.
⭐JSW Steel expands portfolio
₹702▲8 (+1.2%)
JSW Steel said that it will acquire National Steel and Agro Industries for ₹621 crore in a month’s time-frame. Against this backdrop, the open interest of its May futures contract dropped 2.4%- indicating short-covering.
⭐Siemens tumbles 8%
₹3,399 ▼ 323 (-8.6%)
Shares of Siemens plunged over 8% after the company said its board approved the sale of low voltage motors and geared motors businesses for ₹2,200 crore to a Siemens AG subsidiary. Meanwhile, the open interest of its May futures contract dropped 15.6%- indicating short 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.
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