Share Market Update: 7 Stocks that have formed bullish positions ahead of today's opening


Equity tips:-






Indian equities are expected to open higher amidst positive global cues. Tracking the global cues all the Asian indices along the US indices have witnessed an upward momentum hinting a follow-up action by the Indian equities getting into today's trade. Since the beginning of the November expiry, baring few counters majority of the underline securities have witnessed short covering or long buildup activity, indicating a positive bias for the markets. As the January contracts are steadily trending higher, stock specific activity could take center stage as buying pressure on account of fresh long build-up and short covering could escalate in today’s trade.

Tracking the open positions i.e open interest activity of the yesterday's trade, following is the list of stocks that could trade with a positive bias: 

UnderlineOI (lakhs)% OI ChgPrice% Price ChgAction
ICICIBANK96714.03803.3Long Buildup
ORIENTBANK13511.01023.9Long Buildup
NBCC364(7.1)631.9Short Covering
JINDALSTEL224(5.3)1593.8Short Covering
IOC516(5.1)1350.6Short Covering
CASTROLIND69(4.7)1520.4Short Covering
GODREJIND17(4.6)5410.6Short 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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