Top Nifty movers see robust delivery buying
Synopsis
Active options data for the likes of HDFC Bank, Kotak Bank and ICICI show further upside potential, given the sales of atthe-money puts and in cases short covering of call positions.
The HDFC twins, ICICI Bank, Kotak Mahindra Bank and Infosys have been the top five contributors to the Nifty’s 621-point move from October 30-November 6. Not only have their returns trumped the Nifty’s 5.3 per cent gain over the five sessions through November 6, most of the stocks have seen good buying interest, based on their delivery to traded volumes (see chart). This shows solid backing to price moves, given their robust quarterly numbers,
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