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The earnings season gets underway this week and market participants will track Q1 numbers along with management commentaries as domestic demand remains a concern. Valuations are rich, a disappointment in earnings can derail the market rally
We have seen a long build-up in 80 stocks including Aurobindo Pharma, Delta Corp, GAIL India, Mahindra and Mahindra, and PVRInox, based on the open interest (OI) percentage.
Based on the OI percentage, 55 stocks were on the short-covering list. These included MCX India, IDFC First Bank, Indraprastha Gas, HDFC AMC, and Indiabulls Housing Finance.
A short build-up was seen in 74 stocks including Eicher Motors, Bata India, Atul, Aarti Industries and Info Edge India, based on the OI percentage.
We have seen a short build-up in 61 stocks including Persistent Systems, Bandhan Bank, JK Cement, Atul, and Divis Laboratories, based on the OI percentage.