DSIJ Mindshare

For January series, the highest call open interest is at 700 strikes with 17,28,900 OI. On the put side, the highest put open interest is at 650 strikes with 25,50,000 OI. Today, the highest addition in the open interest was seen at 770 calls of January expiry with 11,74,700 OI while on the put side, 650 puts have seen the highest addition in the open interest with 25,50,000 OI. 

The derivatives data is also suggesting a long build-up in the stock. On Monday, January series stock future saw 3,72,000 addition of open interest, which is 27.33 per cent addition in the open interest. It indicates that there is a long build-up in the market.

The derivatives data is also suggesting a long build-up in the stock. On Friday, January series PNB stock future saw 5,80,64,000 addition of open interest, which is 169.34 per cent addition in the open interest. It indicates that there is a long build-up in the market.

The open interest data is also supporting the same phenomenon. As for January monthly expire, the highest call open interest is at 75 strikes with 70,87,000 OI, followed by the 77 strikes call option with 24,32,000 OI. This suggests that the zone of Rs 75-Rs 77 will be a major hurdle for the stock.

Interestingly, the leading indicator i.e. the 14-period weekly RSI has surged above the 60 mark for the first time since June 2018. The weekly RSI is currently quoting at 62.21 and it is in a rising mode.