The derivatives data is also suggesting a long build-up in the stock. On Wednesday, January series stock future saw 18,90,000 addition of open interest, which is 15.63 per cent addition in the open interest. It indicates that there is a long build-up in the market.

The stock of Bajaj Finserv Limited will report its Q3 result today. Read onto know more about what F&O data suggests about the stock.

The stock of L&T Finance Holdings Limited surged over 7 per cent on Tuesday. Read on to know more about what the option data say about the stock.

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Interestingly, on December 18, 2020, the stock had witnessed a ‘golden crossover’, which is considered a long-term bullish sign. In technical parlance, the golden crossover occurs when a short-term 50-day simple moving average crosses above the long-term 200-day simple moving average on any indices or stocks.

The stock of HDFC Asset Management Company Limited has formed a hammer candlestick pattern as on September 25, 2020, and thereafter, marked the sequence of higher tops & higher bottoms. The stock has witnessed over 62 per cent upside momentum from the low of Rs 2,070.05, which was registered on September 25, 2020.

Interestingly, the 14-period daily RSI has also given a downward sloping trendline breakout, which is a very bullish sign. The daily MACD stays bullish as it is trading above its zero line and signal line. The histogram is suggesting a pickup in the upside momentum.

IIFL Finance was picked by our Bollinger Band squeeze scanner, which suggests that the stock is near a consolidation breakout. Bollinger Band squeeze occurs when the volatility falls to low levels and the band narrows. A volatility contraction or narrowing of the bands can foreshadow a significant advance or decline.

The stock of GNA Axles had given a downward sloping trendline breakout on December 31, 2020, and thereafter, witnessed over 41 per cent upside in just nine trading sessions. During this northward journey, the stock has marked the sequence of higher highs & higher lows for nine consecutive trading sessions.

The derivatives data is also suggesting a long build-up in the stock. On Tuesday, January series stock future of Bank of Baroda was seen with 1,09,62,900 addition of open interest, which is 18.53 per cent addition in the open interest. It indicates that there is a long build-up in the market.