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Nifty continued its downward journey for the third day - HDFC Securities 

F&O HIGHLIGHTS

LONG BUILT UP WAS SEEN IN THE NIFTY & BANK NIFTY FUTURES

* Indices ended with robust gains in the extended trading session on Wednesday. The Nifty ended near the 15,000 mark. Barring the Nifty IT index, all the sectoral indices on the NSE ended in the green. Banks shares rallied after the government lifted embargo on grant of government businesses to private banks. Nifty increased by 1.86% at 14982.

* Minor Long build up was seen in Nifty Futures’ where Open Interest increased by 0.84% with Nifty rising by 1.86%.

* Long built-up was seen in the Bank Nifty Futures, where we have seen 7.56% rise in the Open Interest with Bank Nifty rising by 3.80%

* Amongst the Nifty options (25-Feb Expiry), Call windup was seen across all strike prices while 14700 – 15000 saw fresh built up in Put options suggesting support around this level. This push PCR to 1.37 level from 1.06 on expiry day.

To Sum It Up, Long built up in the Nifty and Bank Nifty Futures, rise in the Nifty Open Interest Put Call ratio on the back of Put writing at 14700 - 15000 levels Indicates that one should remain bullish for the markets.

Therefore, our advise is remain bullish with the stop loss of 14900 level. On the higher side 15000 - 15100 levels will act as a resistance.

In the Bank Nifty, our advice is to remain bullish with the stop loss of 36000 level. On the higher side, resistance is seen in the vicinity of 37000 - 37200 levels.

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