Starting for the first time some ideas on F&O stocks, though I never thought of posting about stocks but decoding F&O action specially of stocks is quite tricky and interesting one as there's continuous unwinding and addition taking place in stocks in tandem with Market cues. Still I think some broad directional cues can be guessed with F&O data and combining it with market cues plus some technicals. Hope you'll like my this attempt and post views and suggestions.
So starting with REC first, there are many more stocks with interesting buildup but still starting with REC(don't know why). Interesting thing about REC is that it is getting a very early Long Unwinding, 60 lac OI was buildup in the stock in the initial opening of April Series but volumes have fallen significantly and early unwinding has taken place in last 2 days. With major PSU have tanked in previous sessions I hope a major unwinding can move this stocks to downward See the charts.
REC Ltd.
Good place to open short is at top of the channel line or at the break of downward channel line. CMP is not bad too for shorting.
Polaris:
With IT companies taking blow of Rupee/Dollar equation and clearly OI buildup is seen @ 174 levels with Price chart diverging with RSI, some short trades can be done at CMP SL should be 180 closing basis.
Will be updating more.....
Hope you liked it.
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