Key Points
Notwithstanding the wild moves seen in shares of Paytm in the last three weeks following the RBI ban on Paytm Payments Bank, Anand James, Chief Market Strategist at Geojit Financial Services, sees a trading play in the stock...
Anand James: As we step into the last week of February series, rollovers have started to gain momentum in Energy, Metal and Chemical stocks, with 85% of F&O stocks appearing to witness long buildup since last expiry and 53% on a week on week basis..
Weekly data shows a different picture with 78% of IT and 59% of Financial services stocks witnessing Short buildup and 100% of Realty and Energy stocks witnessing Longs..
Anand James: Similar trend was visible in Axis Bank and Kotak Bank with average delivery% rising from 50% to 57% on week on week basis in the case of Axis bank and 47.5% to 62% in the last week in the case of Kotak bank..
Anand James: PSU banks had a tough week, a scenario consistent with our view that they are to face a time correction, but not necessarily an outright fall..
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