Dixon & Bajaj-Auto Showing High Rise in Future OI

26 Agu 2024

DIXON

• Following a significant upward trend, the stock price experienced a correction and later established a Double Bottom pattern.
  
• Recently, a breakout occurred, backed by strong volume, suggesting that the price is set for further gains.
  
• Additionally, a notable increase in future open interest—nearly 11%—has been recorded.
  
• This rise in both stock price and future open interest signals that big investors are optimistic about this stock.
  
• As long as the price remains above the 12,900 level, the overall sentiment is likely to stay positive.
  

BAJAJ-AUTO

• During the upward movement, the price experienced a brief consolidation phase, resulted in the formation of a Rounding Bottom pattern.
  
• Recently, a breakout occurred, supported by significant volume, suggested that the stock price is poised to maintain its upward trajectory.
  
• Moreover, there has been a remarkable surge in future open interest, climbed nearly 19%.
  
• This increase in both the stock price and future open interest indicates that big investors are bullish about this stock.
  
• As long as the price remains above the 10,000 level, the overall sentiment is likely to stay positive.