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Long build up was seen in Nifty Futures’ where Open Interest rose by 3.46% with Nifty rising by 0.44% -  HDFC Securities

F&O HIGHLIGHTS

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

REMAIN BULLISH WITH TRAILING STOP LOSS OF 15700 LEVELS

* Market ended a lacklustre trading session with modest gains on Friday. Firm cues from other Asian stock markets boosted trading sentiment. The Nifty closed near the 15,850 level after opening at 15,839.35. Barring the Nifty FMCG index, all the sectoral indices on the NSE ended in the green.

* Long build up was seen in Nifty Futures’ where Open Interest rose by 3.46% with Nifty rising by 0.44%.

* Long build was seen in the Bank Nifty Futures too, where we have seen 5.28% rise in the Open Interest with Bank Nifty rising by 1.54%.

* Nifty Open Interest Put Call Ratio fell marginally to 1.20 levels from 1.21 levels. Amongst the Nifty options (01-July Expiry), Put writing was seen at 15700-15800 levels, Indicating support is seen around 15700 levels. On the higher side, resistance is seen in the vicinity of 15900-16000 levels where we have seen Call writing.

To Sum It Up, long build up in Nifty futures, Long build up in the Bank Nifty Futures & Put writing at 15700-15800 levels, Indicates that one should continue to remain optimistic for the markets.

Therefore, our advise is to remain bullish with the trailing stop loss of 15700 levels. On the higher side 15900-16000 levels will act as an immediate resistance where Calls have been written

In the Bank Nifty, our advice is to remain bullish with the SL of 35000 level. On the higher side, resistance is seen in the vicinity of 35500-36000 levels.

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