LONG BUILD UP IS SEEN IN THE NIFTY FUTURES
HOLD LONGS WITH SL OF 17600 LEVELS
* Nifty ended on a positive note on the back of metal and banking stocks, where it gained by 39 points to close at 17698.15 levels
* Long build up is seen in the Nifty Futures where Open Interest rose by 0.84% with Nifty Futures rising by 0.16%.
* On the other hand, Short covering is seen in the Bank Nifty Futures, where Open Interest fell by 0.36% with Bank Nifty Futures rising by 0.34%.
* Nifty Open Interest Put Call ratio remain steady at 1.24 levels. Amongst the Nifty options (18-Aug Expiry), Put writing is seen at 17600-17500 levels, Indicating Nifty is likely to find strong support in the vicinity of 17600 - 17500 levels. On the higher side, an immediate support is seen in the vicinity of 17800-17900 levels where we have seen Put writing .
* Long build up is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 921 Cr with their Open Interest going up by 6299 contracts.
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