Page 6 - Trade Setup News Today

January has started on a very weak note so far. Nishant Pant finds a cost-effective way using options to profit from a further pullback.

A short build-up was seen in 62 stocks including L&T Technology Services, Hindustan Aeronautics, Vodafone Idea, HDFC Asset Management Company, and Ashok Leyland.

A long build-up was seen in 71 stocks, which included ONGC, Tata Communications, Granules India, IndiaMART InterMESH, and Wipro.

A short build-up was seen in 57 stocks including Metropolis Healthcare, HDFC Life Insurance Company, HDFC Asset Management Company, Balrampur Chini Mills, and Container Corporation of India.

A long build-up was seen in 58 stocks, which included Delta Corp, HDFC Asset Management Company, Gujarat Gas, Torrent Pharmaceuticals, and Mahanagar Gas.

A long build-up was seen in 60 stocks, which included Zee Entertainment Enterprises, JK Cement, Vedanta, Polycab India, and IRCTC.

Based on the OI percentage, 58 stocks were on the short-covering list. This included Birlasoft, Bandhan Bank, Hindustan Copper, Chambal Fertilisers & Chemicals, and Adani Ports.

The consumer discretionary and growth/tech sectors are the typically the first ones to take a beating when markets start pulling back. With this view in mind, Nishant is looking to put on a bearish options trade on Domino's Pizza.

A short build-up was seen in 87 stocks, including Navin Fluorine International, Hindustan Copper, Bandhan Bank, Polycab India, and Federal Bank

Based on the OI percentage, 65 stocks saw long unwinding, including GNFC, Chambal Fertilisers and Chemicals, Oberoi Realty, Gujarat Gas, and India Cements.