Monday, 18 June 2018

5 stocks that will trade with a negative 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. Baring few counters, majority of the underline securities have witnessed short selling or long unwinding, indicating a negative bias for the markets. As all the Asian indices post deep cuts & with SGX Nifty trading 0.45% lower, a sharp decline in the stock price could be expected as fresh short selling could weigh in. 

Tracking the derivative data points, following is the list of stocks that will remain under selling pressure in today's trade:
UnderlineOI (lakhs)% OI ChgPrice% Price ChgAction
MCDOWELL-N121374.9679(80.4)Short Buildup
MRPL12944.488(5.1)Short Buildup
ADANIPORTS15113.7374(0.5)Short Buildup
ICICIPRULI11010.7399(0.8)Short Buildup
MGL19(5.8)832(0.4)Long Unwinding

Note: Open interest is the total number of outstanding contracts that are held by market participants at any point in time. It can be used to gauge & identify an intermediate trend of underline securities in future and options market.

Price and Open Interest general rule:
DecreaseIncreaseShort build up
DecreaseDecreaseLong Unwinding

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