PNB
CMP (Rs): 105.8 Change in Open Interest in June Series: +6.1% Change in price in June Series: +3.4%
PNB added over 6% open interest in the June series as long positions were built on Friday. Vipin Kumar, assistant vice president, derivatives and technical research, Globe Capital Market, said the stock had witnessed a bullish breakout with a noticeable rise in volumes on daily charts.
“Considering the current chart patterns and strong long buildup, we expect it to move northward till it is trading above Rs 100 levels and anticipate it to test Rs 112-Rs 115 levels in the immediate near term,” he said. He suggests buying the June future for a target of Rs 112-Rs 115, with a stop loss at Rs 100 (ex-dividend support at Rs 97, effective June 20)
BANK OF INDIA
CMP (Rs): 121.9 Change in Open Interest in June Series: +1.8% Change in price in June Series: +2.3%
Kumar said strong rollovers of nearly 98% were seen on expiry day—signifi cantly higher than the past three months’ average of 91%—and the stock has also registered a bullish breakout on weekly charts, setting the tone for a medium-term up move.
“Considering both technical charts as well as derivatives data, we expect a strong bullish momentum in this counter till it is holding above Rs 114 levels (ex-dividend support at Rs 110) and likely to test Rs 129-Rs 135 levels in the near term,” he said.
MANAPPURAM FIN
CMP (Rs): 237.6 Change in Open Interest in June Series: +59% Change in price in June Series: +2.5%
“Manappuram Finance has broken out of a tight consolidation range between Rs 220 and Rs 235, after spending nearly two months near its record high,” said Ajit Mishra, senior vice president, research, Religare Broking.
Mishra said the stock’s chart pattern, along with a noticeable surge in volumes and open interest, indicates a likely resumption of the uptrend. He suggested traders buy its June contracts for a target of `256, with a stop loss at `232
SBI CARDS AND PAYMENT SERVICES
CMP (Rs): 919.7 Change in Open Interest in June Series: +0.8% Change in price in June Series: +0.6%
“From a technical perspective, SBI Card is sending early reversal signals, trading close to the neckline of a multi-year base pattern and staying comfortably above its key moving averages on the daily chart—both are solid markers of enduring strength,” said Dhupesh Dhameja of Samco. He said fresh long trades can be considered from Rs 910-Rs 921, for a target of Rs 1,050, with a stop loss at Rs 850.
STATE BANK OF INDIA
CMP (Rs): 814 Change in Open Interest in June Series: +10% Change in price in June Series: +2.1%
Mishra said the market is witnessing noticeable traction in the PSU banking space, with SBI also participating in the move. The stock has seen a breakout and a strong surge in open interest. “All indications suggest that the prevailing bullish tone is likely to strengthen further,” he said. Mishra suggests traders buy its future for a target of `864, with a stop loss at `795.
BSE
CMP (Rs): 2,669 Change in Open Interest in June Series: +17.7% Change in price in June Series: +8.3%
The stock surged about 27% in May and hit a fresh 52-week high on Friday and led to high trading volumes following Sebi’s decision to restrict weekly expiries to Tuesday and Thursday, which is expected to benefit the exchange’s business.
Dhupesh Dhameja, derivatives analyst, Samco Securities, said the alignment of technical resilience and strong derivative signals presents a compelling case for further upside potential in the coming sessions. He said traders may consider initiating fresh long positions around Rs 2,600- Rs 2,670, with a target of Rs 3,020. The bullish view remains intact as long as the stock holds above Rs 2,380.
INOX WIND
CMP (Rs): 195 Change in Open Interest in June Series: +19.2% Change in price in June Series: +1.9%
“With an impressive 95.21% rollover rate, it’s evident that market participants are keen to carry forward their bullish bets, boosting optimism heading into the new series,” said Dhameja.
He said the stock is trading above its 10- and 20-day moving averages, and other indicators also confirm that bullish momentum is alive and well. Dhameja said traders can create fresh long positions between Rs 187-Rs 195, for a target of Rs 225. The stop loss is at Rs 172.
