F&O stocks: Shriram Finance, IRCTC among 5 stocks with long buildup

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Shriram Finance, REC, IRCTC were among five stocks that witnessed a buildup of fresh long positions on Thursday.

The buildup of fresh long positions can be seen when the stock prices move up and open interest on the counter also moves upward. The signal is considered more reliable if the volume on the counter has also seen an increase. Open interest indicates that bulls are likely to dominate the following counters.


REC's stock price jumped 7.16%, and open interest saw a rise of 0.38%.

Hindustan Aeronautics surged by 6.23%, and open interest saw an increase of 4.24%.


IRCTC rose 5.86%, and the open interest saw an increase of 0.25%.PFC stock rose 5.77%, and the open interest saw an increase of 0.58%.Shriram Finance's stock price gained 4.77%, and open interest saw an increase of 3.05%.Also Read: Exide Industries, BHEL among 5 stocks with long buildup

Some additional checks would help traders in taking better trading decisions as they increase the probability of a follow-up of the upward movement in the stock price. First, if this fresh long buildup has come when the stock is very close to its 52-week high, that increases the probability of the stock making an attempt to break its previous 52-week high.

Second, if this long buildup is accompanied by any bullish crossover, which means whether in the current up-move when the open interest has moved up the stock price has been able to cross either its 20, 50 or 100-day moving average.

Another couple of points which traders should keep in mind when taking a trade by looking at the matrix of buildup of long positions on the basis of open interest. Also check whether there is any extraordinary buildup of long positions in any out-of-money call option, especially any far-of-the-money call option. That indicates the probability of any informed person taking exposure through options.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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