How to find Momentum Stocks
Intraday movers is a tool in Quantsapp which enables the option traders or derivative traders on NSE to gauge which are the movers and shakers in the derivatives segment. The platform offers features to study stocks based on criteria such as percentage change in price of futures on NSE and open interest. These movers can be identified by analyzing real-time market data.
As per the price-open interest dynamics, the screen is a bubble chart, which is divided into quadrants, with the increase in open interest (OI) indicating long built-up, provided the price of the concerned futures is also increasing.
Similarly, the other quadrants are labelled as long unwinding, Short and Short covering based on the price and OI relationship.
On the bullish end:
Longs = Price Up + OI Up (L)
Long Unwinding = Price Down + OI Down (LU)
On the bearish end:
Shorts = Price Down + OI Up (S)
Short Covering = Price Up + OI Down (SC)
Prasanna Jadhav is a BSE-certified options specialist with a wealth of knowledge and research in technology and financial markets. His knowledge of options trading and insights are very helpful , establishing himself as one of the top expert for acquiring insights into Equity Derivatives Trading.
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