BSE, Angel One: Newly added F&O stks caught investors' fancy; how to trade?

BSE, Angel One, CDSL, PB Fintech and Delhivery have rallied up to 19 per cent in the last four trading sessions backed by a notable rise in open interest; here's what the technical charts suggest.

Starting December series (November 29, 2024 onwards), the National Stock Exchange (NSE) had included 45 new stocks in the derivative (futures & options) segment based on the new eligibility norms. This also marked NSE's first revision in the F&O segment after almost two-and-half years.  The addition included some of the most sought new-age stocks such as Zomato, Paytm, Nykaa, Delhivery and PB Fintech among others.  In the last four trading sessions, 5 out of these 45 newly added F&O stocks were the top gainers in the overall space. Data from the NSE shows that BSE stock December futures zoomed over 19 per cent on the back of 151 per cent jump in open interest (OI).  Similarly, futures contract of stock broking firm Angel One has soared 12 per cent backed by a 163 per cent surge in OI. Among others, CDSL, Delhivery and PB Fintech have gained in the range of 9 - 11 per cent each with a 43 - 89 per cent increase in OI.  In comparison, the Nifty December futures have gained 0.5 per cent amid a 2.8 per cent decline in OI in the last four days.  As these 5 stocks seemed to have clearly caught investors' fancy not only among the 45 new entrants, but in the overall F&O space; here's a trading guide based on how these shares are placed on the technical charts.  BSE  Current Price: Rs 5,469  Upside Potential: 5.1%  Support: Rs 5,200; Rs 5,075  Resistance: Rs 5,520  After four successive closes above the higher-end of the Bollinger Bands on the daily scale; BSE stock on Wednesday was seen trading below the same in early deals. This hints at early signs of likely some consolidation following the steep rally. The higher-end of the Bollinger Bands indicates likely resistance around Rs 5,520 levels; above a spurt towards Rs 5,750 seems likely. CLICK HERE FOR THE CHART    Having said that the overall bias for BSE is likely to remain positive as long as the stock holds above Rs 5,075 levels. The interim consolidation could see the stock test support around RS 5,200 levels.  Angel One  Current Price: Rs 3,434  Upside Potential: 10.7%  Support: Rs 3,370; 3,290; Rs 3,220  Resistance: Rs 3,485  The near-term outlook for Angel One is likely to remain upbeat as long as the stock trades above Rs 3,370. On the upside, the stock seems on course to rally to Rs 3,800 levels, with some resistance seen around Rs 3,485 levels. In case of a dip, the stock is expected to get considerable support around Rs 3,290 and Rs 3,220 level. CLICK HERE FOR THE CHART  PB Fintech  Current Price: Rs 2,160  Upside Potential: 13.4%  Support: Rs 2,085; Rs 2,000  Resistance: Rs 2,250; Rs 2,335  Shares of the parent company of PolicyBazaar - PB Fintech have witnessed a steady 22 per cent climb post the breakout on the daily chart on November 26. Key momentum oscillators are now showing signs of tiredness; hence the stock may witness a tepid trend in the near-term. CLICK HERE FOR THE CHART  The overall bias for the stock is likely to remain favourable as long as the stock holds above Rs 2,084; below which a test of Rs 2,000-mark seems likely. On the upside, the stock is likely to log newer highs in the coming months, and could target Rs 2,450 levels. Interim resistance can be expected around RS 2,250 and Rs 2,335 levels.  Delhivery  Current Price: Rs 378  Upside Potential: 8.5%  Support: Rs 369; Rs 341  Resistance: Rs 392  Amid the recent sharp rally Delhivery has crossed its 20-DMA (Daily Moving Average) and the 50-DMA at Rs 341 and Rs 369 in a matter of just three trading sessions. On Wednesday, the stock is seen seeking support around its 50-DMA. The short-term trend seems favourable, with the stock likely on course to test its 200-DMA at Rs 410 levels - with interim resistance likely around Rs 392. CLICK HERE FOR THE CHART  CDSL  Current Price: Rs 1,905  Upside Potential: 16.8%  Support: Rs 1,840; Rs 1,810  Resistance: Rs 2,000; Rs 2,090  Even as CDSL seems to be consolidating in a thin range over the last few days, the overall bias at the counter looks extremely bullish. Chart shows that the stock is likely to trade on an upbeat note as long as it holds above Rs 1,840 - Rs 1,810 support zone. CLICK HERE FOR THE CHART  On the upside, the stock can potentially rally to Rs 2,225 levels; with interim resistance likely around Rs 2,000 and Rs 2,090 levels.