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Bank Nifty, since short build up is seen our advice is to create long position only above 35800 with the stop loss of 35600 - HDFC Securities

F&O HIGHLIGHTS

MINOR LONG BUILD UP IS SEEN IN THE NIFTY FUTURES

HOLD LONG POSITION WITH THE STRICT STOPLOSS OF 16500​​​​​​​

* Nifty ended on a flat note and gained marginally by 10 points to close at 16634.65

* Minor long build up was seen in Nifty Futures’ at, where Open Interest rose by 0.07% with Nifty rising by 0.06%

* Short build up was seen in Bank Nifty Futures’ where Open Interest rose by 6% with Bank Nifty falling by 0.35%

* Nifty Open Interest Put Call Ratio fell to 1.27 levels from 1.39 levels. Amongst the Nifty options (26-August Expiry), Call writing was seen at 16700 levels, Indicating Nifty is likely to find resistance in the vicinity of 16700-16800 levels. On the lower side, an immediate support is seen in the vicinity of 16500-16400 levels where we have seen Call writing.

* Long build was seen by FIIS’ in the Index Futures segment where they net bought worth Rs 78 Cr with their Open Interest going up by 23787 contracts.

To Sum It Up, Minor long build up in the Nifty and long build by FIIs in the Index futures segment Indicates that one should remain optimistic for the markets.

Therefore, our advise is remain bullish with the strict SL of 16500 levels. On the higher side resistance is seen around 16700-16800 levels where Calls have been written

In the Bank Nifty, since short build up is seen our advice is to create long position only above 35800 with the stop loss of 35600. On the higher side, resistance is seen in the vicinity of 36300- 36600 levels

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