Check out the F&O trends in select mid-cap stocks such as IFCI, Biocon, Godrej Ind, United Phosphorous and Shree Renuka Sugars with Chandan Taparia, Derivatives Analyst, Anand Rathi:
Smartinvestor : IFCI is among the top traded stocks in the futures segment today. Is the stock likely to see further upside after recent gains and what is your call for Jan futures?
Chandan Taparia : IFCI is moving well from last three sessions, it has seen built up of long by around 15% with decenet gain of 18% in last 5-6 trading sessions.
Chandan Taparia : It has seen rising trading as well as delivery volumes which shows momentum is likely to continue in the stock.
Chandan Taparia : We are advising the stock to our traders from 34.75 levels. Momentum may continue till 42.50 levels.
Smartinvestor : Pharma company Biocon is witnessing action today. The open interest position in the stock in down nearly 7%. What is your advice to investors for Jan futures expiry?