Build-up of long OI in general indicates that traders are expecting the price of the underlying stock or index to gain in the near-term.
Power Grid has been declared a successful bidder to establish inter-state transmission system for two projects on build, own operate and transfer (BOOT) basis, in Chhattisgarh.
Shares of Power Grid Corporation of India, GAIL (India) , Linde India, Symphony and Tech Mahindra may rise up to 14%, as per their respective technical charts
The derivative analyst from HDFC Securities recommends to Buy PowerGrid 222.50 Call and simultaneously Sell 230 Call for the March expiry.
The government has invoked emergency powers under Section 11 of the Electricity Act to impose the rule as it expects record surge in power demand this summer
The technical outlook for Sun Pharma and Maruti remains bullish, while the trend for Bajaj Auto is looking weak on charts. Power Grid, meanwhile, needs to overcome the hurdle of Rs 240 level
Earlier this year, Power Grid Corporation, Adani Transmission, Tata Power and Torrent Power scaled record highs, but now are seen trading almost 11 - 22 per cent lower from their respective peaks.