9 stocks that could trade with a positive bias in today's trade
Indian equities are expected to open lower amidst negative global cues. As the indices continue to remain volatile, stock-specific action will continue to remain in focus.
As the March F&O contracts are approaching to expire, traders have covered their short positions in some stocks and have also created long positions in few.
Based on the open interest data points, we believe following are the 9 stocks that could trade with a positive bias in today's trade.
Underline
|
OI (lakhs)
|
% OI Chg
|
Price
|
% Price Chg
|
Action
|
DIVISLAB
|
27
|
23.2
|
1091
|
3.1
|
Long Buildup
|
NIITTECH
|
17
|
18.6
|
957
|
3.1
|
Long Buildup
|
MINDTREE
|
27
|
16.1
|
845
|
5.1
|
Long Buildup
|
BANKINDIA
|
310
|
(7.9)
|
104
|
0.3
|
Short Covering
|
JPASSOCIAT
|
1993
|
(7.8)
|
19
|
17.1
|
Short Covering
|
KPIT
|
113
|
(7.2)
|
232
|
0.9
|
Short Covering
|
INDIANB
|
49
|
(6.7)
|
306
|
0.2
|
Short Covering
|
HEXAWARE
|
46
|
(4.9)
|
377
|
0.6
|
Short Covering
|
Note: Open interest is the number of options or futures contracts that are not closed. In simple words, it is the number of outstanding contracts. It only applies to futures and options contract.
Price and Open Interest general rule:
Price and Open Interest general rule:
PRICE
|
OPEN INTEREST
|
MARKET OUTLOOK
|
Increase
|
Increase
|
Long build up
|
Increase
|
Decrease
|
Short covering
|
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