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Friday, 13 January 2017

Power stocks dominated the trading session on Thursday and were buzzing with strong long built up positions. However, in Friday’s trading session, the stocks are in a different mood witnessing profit booking.

In Thursday’s trading session, NHPC witnessed a 26% increase in OI and 5.9% increase in stock price. NTPC witnessed a 16% increase in OI and 5.8% increase in stock price. Tata Power witnessed a 10% increase in OI and 3.11% increase in stock price. Torrent Power has seen a 12% increase in OI and 3.84% increase in stock price.

These stocks have seen a strong long built up position and are now reeling under pressure, except for Torrent Power in Friday’s session. In Friday’s trading session, there is little increase in OI but prices are visibly decreasing. This shows signs of fresh short positions being built in the market in the first half of the session.

It will be interesting to see if some of these Power stocks make new highs for themselves in the coming weeks.
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