National Aluminium
CMP: Rs 80.05
Share Price Change in July Series: 16.95%
OI Change in July Series: 46.87%
Traders have accumulated bullish bets in the stock futures of NALCO ahead of its March quarter results. The company after market hours on Monday posted a net profit of Rs 935.74 crore for the March quarter compared to profit of Rs 100 crore in the same period last year. Chandan Taparia, derivative analyst at Motilal Oswal, expects the stock to rise to Rs 88 in the near term.
Apollo Hospitals Enterprise
CMP: Rs 3,454.15
Share Price Change in July Series: 7.83%
OI Change in July Series: 17.65%
The recent announcement of re-organisation with the formation of Apollo Health Co has increased interest in the stock on the bullish side. Analysts see another 8-10% gain in the stock in the near term. “This stock can rally further to Rs 3,600-3,700 as technical and derivatives set-up is quite bullish. One can buy at the current levels with a stop loss of Rs 3,320,” said Rajesh Palviya, head-technicals and derivatives at Axis Securities.
HDFC Life Insurance
CMP: Rs 696.20
Share Price Change in July Series: -3.25%
OI Change in July Series: 49.69%
The stock futures of HDFC Life Insurance Company saw a sharp surge in open interest on Monday on news that London-based Standard Life will divest 3.46% stake in the company on Tuesday. The price range for the share sale has been fixed at Rs 658-678 per share. The stock fell over 4% on Monday in reaction to the news. “The stock is still in bullish territory but looking at the near term set up, the stock is trading near its 20-day simple moving average of Rs 694. If it comes below that, it may go down to Rs 665-680 — which is a major support area,” said Rajesh
Palviya of Axis Securities.
Reliance Industries
CMP: Rs 2,086
Share Price Change in July Series: -3.13%
OI Change in July Series: 8.72%
Traders have added bearish positions in July futures of Reliance Industries as they believe most of the positives are priced in. Last week, the company announced its foray into new energy business and affordable smartphone launch plans at its annual general meeting. The stock has fallen for the last five straight sessions, accumulating a loss of over 5%. Taparia of Motilal Oswal said the stock may slide further to Rs 2,045 which would be a good level to accumulate the stock for a target of Rs 2,165-2,200.
Cummins India
CMP: Rs 871.90
Share Price Change in July Series: 4.81%
OI Change in July Series: 20.83%
A breakout on technical charts has lent further strength to the stock. The open interest surge in Cummins is one of the highest among stock futures in the July series. “The stock has given a breakout of pole and flag pattern. The stock can rise further to Rs 920 in the near term,” said Taparia of Motilal Oswal.
