In Wednesdays trading session, the following five stocks witnessed a build of fresh long positions. Let us first understand how this conclusion is reached, whether the stock has seen a buildup of a fresh long position or not.
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The market is currently within a tight range, with Nifty Future having a strong base at 21,200-21,300 and resistance at 21,600-21,650. A break below 21,300 or a move beyond 21,600 will determine the market s direction. Bank Nifty faces resistance at 46,500. I am bullish on the IT sector, particularly Wipro, which offers a buying opportunity at Rs 480. Hind Petro is another strong stock in the OMC sector. Oracle Financials is a recommended buy, while Zee Entertainment is best avoided due to high volatility.
Apollo Tyres topped the list, the stock price gained 2.99%, and open interest saw a rise of 0.16%. Hind Petro price surged 2.53%, and open interest saw an increase of 2.81%.
Manappuram Finance topped the list, the stock price gained 3.96%, and open interest saw a rise of 0.31%. Indus Towers stock price surged 3.47%, and open interest saw an increase of 4.35%.