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A short build-up was seen in 64 stocks, including Hero Motocorp, InterGlobe Aviation, DLF, Power Grid Corporation of India, and Maruti Suzuki India. An increase in OI along with a fall in price points to a build-up of short positions.
Page Industries, Delta Corp, Hindustan Copper, Astral and Siemens were among 85 stocks to see a long build-up. An increase in open interest and price indicate a build-up of long positions.
The Nifty needs to close above 19,800 for the uptrend to continue, while a slide below 19,500 can lead to profit booking, say experts. Maruti Suzuki, Power Grid Corporation and Adani Green are among the companies which will be in focus ahead of their quarterly earnings on July 31
Based on the OI percentage, 54 stocks were on the short-covering list. These included M&M Financial Services, Tata Chemicals, Aditya Birla Fashion & Retail, Coforge and Balrampur Chini Mills
Reliance Industries and ICICI Bank stocks will be in focus following their earnings announcements. Earnings season will continue, with Tata Steel, Canara Bank, TVS Motor and Mahindra Logistics among the several companies sharing their June quarter numbers on July 24