F&O buzz: HDFC Bank, NTPC, M&M and 36 other stocks show signs of short buildup; check full list of F&O gainers and losers

NIFTY50 index continues to trade with high volatility on Thursday, oscillating between gains and losses in the first hour of trading. The NIFTY50 index made an intraday high of 24,297, facing immediate resistance at 24,300 levels, and plunged back to intraday low levels of 24,178. The index was pulled lower by the index heavyweights like HDFC Bank (-1%), Infosys (-0.63%), and State Bank of India (-0.53%). Alongside this, Shriram Finance (-1.6%) and NTPC (-1.6%) also contributed to the index drawdown on Thursday.

Meanwhile, ICIC Bank (+0.83%), Kotak Mahindra Bank (+1.8%), Axis Bank (+0.4%), Tech Mahindra (+1.3%) and Sun Pharma (+0.6%) are the top five index movers on Thursday.

The F&O space was also buzzing with strong activity, with stocks like BHEL (+3.6%), Lupin (-1.6%), M&M (-1.2%), Bajaj Finance (0.4%), and Yes Bank (-0.6%) among the top open interest gainers on Thursday.

At the index level, F&O activity in the NIFTY50 index is tilting towards short buildup and long unwinding at 11:00 am.

Long buildup

12 stocks from the NIFTY50 are showing long buildup, including names like Kotak Mahindra Bank, Tech Mahindra, SBI Life, Titan, BEL, Dr Reddy's, ICICI Bank, Asian Paints, Bajaj Finance, Tata Motors PV, Titan. Adani Enterprises shares are witnessing short covering, with shares rising 0.23%.

Short buildup

On the flipside, 37 stocks are witnessing strong short buildup and long unwinding on Thursday morning. The list includes Shriram Finance, NTPC, Hindalco, HDFC Bank, M&M, Bajaj Auto, Power Grid, Reliance, Infosys, TCS, to name a few.

Midcap NIFTY

The trend is also visible in the broader indices as well. Among the Midcap NIFTY index, 7 stocks out of 25 stocks from the Midcap Select index are showing long buildup on Thursday. Meanwhile, 18 stocks are showing strong short buildup and long unwinding. Stocks that are showing long buildup include names like BHEL, Bharat Forge, Naukri, Indus Tower, Dixon, and Persistent. On the flip side, shares of AU Small Finance Bank, Swiggy, Hero MotoCorp, Lupin, Polycab, Ashok Leyland, among others, are showing strong short buildup.