Indian Stock Markets though, have ended flat in today's session, but an interesting trend has seen in the derivatives space.
Amongst the top 10 stocks which have gained Open Interest, 6 are from the banking space, all gaining between 2-12%. These are listed below:
1) Karnataka Bank is up 12%, with Open Interest addition of 58%.
2) Federal Bank is up 5% with Open Interest addition of 46%.
3) Oriental Bank is up 5% with Open Interest addition of 20%.
4) Canara Bank is up 1% with Open Interest addition of 17%.
5) Dena Bank is up 4% with Open Interest addition of 17%.
6) Vijaya Bank is up 4% with Open Interest addition of 15%.
It seems Indian Equity Markets are discounting the news of Bank Re-capitalization and Mergers which is expected to be announced this week. Watch out for the banking space and enter into any Public Sector Banks cautiously. Even if you plan to enter, place strict stop-losses for the same.
Wishing you a profitable trading...
Amongst the top 10 stocks which have gained Open Interest, 6 are from the banking space, all gaining between 2-12%. These are listed below:
1) Karnataka Bank is up 12%, with Open Interest addition of 58%.
2) Federal Bank is up 5% with Open Interest addition of 46%.
3) Oriental Bank is up 5% with Open Interest addition of 20%.
4) Canara Bank is up 1% with Open Interest addition of 17%.
5) Dena Bank is up 4% with Open Interest addition of 17%.
6) Vijaya Bank is up 4% with Open Interest addition of 15%.
It seems Indian Equity Markets are discounting the news of Bank Re-capitalization and Mergers which is expected to be announced this week. Watch out for the banking space and enter into any Public Sector Banks cautiously. Even if you plan to enter, place strict stop-losses for the same.
Wishing you a profitable trading...
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