F&O stocks: Bharti Airtel, TVS Motor among 5 stocks with long buildup
long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.
-Bata India's stock price gained 2.46%, and open interest saw a rise of 1.93%.
-Bosch price surged 1.81%, and open interest saw an increase of 2.27%.
-TVS Motor stock rose 1.79%, and the open interest saw an increase of 1.45%.
-ICICI Prudential Life Insurance stock price jumped 1.71%, and open interest saw an increase of 3.44%.
-Bharti Airtel's stock price gained 1.73%, and open interest saw an increase of 0.82%.
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Some additional checks would help traders make 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 build has come when the stock is very close to its 52-week high, that increases the probability of the stock attempting to break its previous 52-week high.
Second, if this long buildup is accompanied by any bullish crossover, which means that 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 that traders should keep in mind when taking a trade by looking at the matrix of buildup of long positions based on 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
