IGI Logo

F&O HIGHLIGHTS

PCR IS AT OVERSOLD LEVEL

ACCUMULATE LONGS IN NIFTY WITH SL OF 15600 LEVELS

* After a volatile session on Wednesday, the Nifty concluded with minor losses, extending its losing streak to a fourth session. The Nifty finished below 15,700 after reaching a high of 15,783.65 in early afternoon session. Auto, finance, and pharmaceutical companies rose, while metal, oil & gas, and real estate stocksfell.

* Long unwinding was seen in the Nifty Futures where Open Interest fell by 0.47% with Nifty falling by 0.25%.

* On the other hand, minor short covering was seen in the Bank Nifty Futures where Open Interest fell by 2.95% with Bank Nifty rising by 0.08%.

* Nifty Open Interest Put Call ratio saw minor rise to 0.75 level from 0.73 levels. Amongst the Nifty options (16-June Expiry), Call writing is seen at 15900- 16000 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 15900 - 16000 levels. On the lower side, an immediate support is seen in the vicinity of 15600-15700 levels where we have seen Put writing .

* Minor long build up was seen by FIIS’ in the Index Futures segment where they net bough worth Rs 12 Cr with their Open Interest going up by 1861 contracts.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ000171337

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer