F&O Check: 5 stocks likely to surge on short covering

55602 Investors following Wipro. Share this News with them.

0

Like this story, share it with millions of investors on M3

F&O Check: 5 stocks likely to surge on short covering

ICICIdirect.com has come out with its report on short covering stocks for February 2012.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See previous views by ICICIdirect.com See what other Experts & Brokerages are saying about Wipro See messages about Wipro Wipro BSE | NSE 29/05/12 Are Mutual Funds betting on Wipro? Other Stocks in this news Tata Chemicals | Mahindra and Mahindra | Power Grid Corporation of India | Bharti Airtel |

ICICIdirect.com has come out with its report on short covering stocks for February 2012.

A study to find out stocks where shorts are averaged and are likely to be covered....

After registering strong momentum, on the back of robust FII inflows, the Nifty has clocked 23% upside in the last couple of months. The upbeat mood has been continued in February and stocks are showing good momentum. We have identified certain stocks where shorts have been averaged. In comparison to last year's low of 4530, these stocks are still holding more than 130% of open interest. As the Nifty is able to hold above 5450 levels, these stocks are likely to see short covering.

Cash volumes, delivery and futures open interest (OI) are regarded as foundation blocks for a stock to show price movement in the short-term. Even based on this analysis, stocks are identified, which are likely to gain momentum. The selected stocks are given below, which are likely to outperform if the Nifty holds 5450.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment