F&O Buzzer: Godrej Properties and DLF will see some purchasing interest

 F&O Buzzer: Godrej Properties and DLF will see some purchasing interest

Two of these equities that are showing purchasing activity on November 1 are DLF and Godrej Properties. Throughout the day, both stocks have increased by more than 1%, with DLF rising by 2.5 percent to Rs 577.6 at 12:32 pm.

Real estate equities, such as DLF and Godrej Properties, are defying the current market trend of decline.

The Nifty 50 fell 29.15 points to 19,050.45 at 12:32 p.m. on November 1st, marking the second straight trading day in which the market extended losses.

Long build-ups in real estate equities are breaking the trend. Two of these equities that witnessed purchasing activity on November 1 were DLF and Godrej Properties. Both have increased their gains in the session by more than 1%, with DLF rising by 2.5 percent at 12:32 pm to Rs 577.6.

According to Open Interest data, DLF has substantial puts placed at 590 levels, suggesting support at that price. Angel One's head technical and derivatives analyst, Sameet Chavan, said that traders are keeping a careful eye on the 600 zone.

"The November series got off to a slow start, but it picked up speed in the first week. This stock had a strong 8 percent climb over the course of the week, along with a noteworthy rise in open interest. This increase suggests that long holdings have been significantly built up in the upward momentum," he said.

According to Open Interest data, DLF has substantial puts placed at 590 levels, suggesting support at that price.

Speaking about Godrej Properties, Chavan said that although short-covering has lately caused an increase in the stock, there was fresh buying activity during today's session. However, it seems likely that the 1,700-odd range will act as an initial barrier, with 1,750 following suit, given the concentration of open interest. According to Chavan, a rise above these levels would greatly improve the medium-term chart structure for this currency.

indicate the change in put open interest (OI), while the ones highlighted in red show the change in call option OI.