Share Market Update: 8 Stocks that could give strong intraday gains


Equity tips:-



  • Indian equities are expected to open higher amidst mixed global cues. As the indices continue to remain volatile, stock-specific action will continue to remain in focus. The January F&O contracts have begun on a stellar note with Nifty posting 1% gains, while the Mid-cap index & Small-Cap index ending ~0.8% higher on the first trading session of the January F&O expiry. As the sentiment continues to remain in favour of bulls, traders have covered their short positions in some stocks and have also created long positions in the majority of the counters. Based on the open interest data points, we believe following 8 stocks could trade with a positive bias in today's trade.

    UnderlineOI (lakhs)% OI ChgPrice% Price ChgAction
    BERGEPAINT2118.83300.2Long Buildup
    SIEMENS2115.310461.3Long Buildup
    MUTHOOTFIN2212.05072.5Long Buildup
    RELINFRA9711.43143.0Long Buildup
    BPCL94(8.7)3560.4Short Covering
    HINDPETRO138(3.7)2491.3Short Covering
    IOC531(2.9)1382.9Short Covering
    INDIACEM158(2.6)962.4Short Covering

    Note: Open interest is the total number of outstanding contracts that are held by market participants at any point in time. It measures the total level of activity in the futures and options market. Open interest tends to act as a leading indicator of continuation or an impending change in trend.

    Price and Open Interest rule is a piece of generic information and not a recommendation to buy or sell. 
    PRICEOPEN INTERESTMARKET OUTLOOK
    IncreaseIncreaseLong build up
    IncreaseDecreaseShort covering
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