LONG BUILD UP IS SEEN IN THE NIFTY & BANK NIFTY FUTURES
HOLD LONGS WITH SL OF 17300 LEVELS
* Nifty continued its upward journey on Monday, where it gained by 127.60 points to close at 17525.10 levels
* Long build up is seen in the Nifty Futures where Open Interest rose by 8% with Nifty rising by 0.73%.
* Long build up is seen in the Bank Nifty Futures, where Open Interest rose by 12% with Bank Nifty rising by 0.86%.
* Nifty Open Interest Put Call ratio rose to 1.30 level from 1.05 levels. Amongst the Nifty options (11-Aug Expiry), Put writing is seen at 17400-17300 levels, Indicating Nifty is likely to find strong support in the vicinity of 17400 - 17300 levels. On the higher side, an immediate resistance is seen in the vicinity of 17600-17800 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 138 Cr with their Open Interest going up by 10818 contracts.
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