Nifty impact - Ahead of HDFC Bank & Infosys Q2FY18 Numbers

India Infoline News Service | Mumbai | October 24, 2017 12:01 IST

Nifty could witness a thrilling move, as the quarterly numbers of the two big giants with a ~14.5% weighting in the index could weigh in.

Quarterly Results
Nifty could witness a thrilling move, as the quarterly numbers of the two big giants with a ~14.5% weighting in the index could weigh in.

Tracking the derivatives:

HDFC Bank: In today’s trade combining all the three available expiry contracts, HDFC Bank futures have added total open interest to the tune ~18.5 lakh shares, mainly long positions, but the quantum remains low.

Tracking the options front, 1900CE and 1840PE remain the maximum open interest strikes consisting of mainly short positions indicating of a ceiling and floor price for the stock.

Overall, we expect a flat to positive action in the stock.

Infosys: In today’s trade combining all the three available expiry contracts, Infosys futures have added total open interest to the tune ~31 lakh shares, mainly long positions, indicating a upmove up to its intermediate resistance level of 962 mark which is where is 200 dEMA is placed.

Tracking the options front, 1000CE & 900PE remain the maximum open interest strikes.

Overall, 900 level will act as a strong floor price for the stock in October F&O expiry

***Note: This is a NSE Chart

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.