Quant Pick - PVR Ltd - ICICI Direct

Time frame: Three months

Derivatives & Quantitative Outlook

The media space has underperformed and was a major laggard recently. PVR Ltd largely remained in a broader range in the last couple of months. However, heavily beaten down stocks from the media sector may exhibit relative outperformance, going ahead. Recently, PVR saw a recovery from its major support of Rs. 1280-1300 levels. We expect fresh longs to follow the recent accumulation in the stock.

The open interest in the stock has increased gradually in the last two weeks along with a price recovery. Current OI in the stock is at a six month high. This month we saw additions of 60% in open interest. Considering continuous additions and recovery of the stock, we expect further fresh accumulation to be seen, which should take it higher in the coming sessions.

For details, click on the link below: Link to the report

Shares of PVR Ltd. was last trading in BSE at Rs. 1410 as compared to the previous close of Rs. 1406.8. The total number of shares traded during the day was 27729 in over 1820 trades.

The stock hit an intraday high of Rs. 1422.85 and intraday low of 1401.15. The net turnover during the day was Rs. 39133853.

Source : Equity Bulls

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