IGI Logo

F&O HIGHLIGHTS

PROFIT BOOKING IS SEEN IN THE NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 16400 LEVELS​​​​​​​

* Nifty broke the three day winning streak, mainly on the back of profit booking during the second half on the back of weak global cues and ended the day with the losses of 77 points to close at 16585 levels

* Long unwinding is seen in the Nifty Futures where Open Interest fell by 8% with Nifty falling by 0.46%. ➢ On the other hand, Short build up is seen in the Bank Nifty Futures where Open Interest rose by 4% with Bank Nifty falling by 1%.

* Nifty Open Interest Put Call ratio fell 1.10 level from 1.28 levels. Amongst the Nifty options (02-June Expiry), Call writing is seen at 16700-16800 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 16700 - 16800 levels. On the lower side, an immediate support is seen in the vicinity of 16400-16500 levels where we have seen Put writing .

* Long unwinding is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 1174 Cr with their Open Interest going down by 1145 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