Bank of Baroda May futures witnessed a long open interest addition of 2 percent. Unwinding noted in call writing positions at 260 and 265 strikes for the May series indicates weakening resistance at higher levels.
For Bata India long additions can be seen in the 1360 CE, 1380 CE, and 1400 CE. The PCR stands at 0.64, signaling a positive turnaround for the price action
Recently stock has reversed from the lower end of the falling channel. Today it has moved beyond its 20DMA and 40DMA levels, hence 9600 levels are immediate support levels technically, said Jay Thakkar.
On the options front, in the BEL May series, there is significant call open interest concentration at Rs 230, 235, and 240 strikes, with substantial additions of open interest observed on the put side at the Rs 230 strike