Creat Short Position on Rally with Stop Loss Of 18200 Levels - HDFC Securities
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SGX SUGGESTING GAP DOWN OPENING
CREAT SHORT POSITION ON RALLY WITH SL OF 18200 LEVELS
* The Nifty opened higher yesterday and extended its gain by 112 points higher to close at 18165.35 levels.
* Long build up is seen in the Nifty Futures where Open Interest rose by 1.89% with Nifty rising by 0.62%.
* Short covering is seen in the Bank Nifty Futures, where Open Interest fell by 8.29% with Bank Nifty rising by 0.43%.
* Nifty Open Interest Put Call ratio rose to 1.38 levels from 1.35 levels. Amongst the Nifty options (19-Jan Expiry), Call writing is seen at 18200-18300 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 18200 - 18300 levels. On the lower side, an immediate support is seen in the vicinity of 18100-18000 levels where we have seen Put writing .
* Short covering is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 1927 Cr with their Open Interest going down by 132 contracts.
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