Nifty Open Interest Put Call ratio fell to 0.92 levels from 1.33 levels - HDFC Securities
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Nifty Open Interest Put Call ratio fell to 0.92 levels from 1.33 levels - HDFC Securities
F&O HIGHLIGHTS
LONG UNWINDING IS SEEN IN THE NIFTY FUTURES
ACCUMULATE LONGS ON DECLINE WITH THE STOP LOSS OF 18000 LEVELS
* Nifty fell sharply during the second half on the back of weak European markets and US futures where it fell by more than 250 points from the intraday high and finally ended the day with the losses of 195 points at 18113 levels.
* Long unwinding is seen in the Nifty Futures where Open Interest fell by 4% with Nifty falling by 1.07%.
* On the other hand, Long build up is seen in the Bank Nifty Futures where Open Interest rose by 3.4% with Bank Nifty ended flat.
* Nifty Open Interest Put Call ratio fell to 0.92 levels from 1.33 levels. Amongst the Nifty options (20-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 18000-18100 levels where we have seen Put writing.
* Long unwinding is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 205 Cr with their Open Interest going down by 13851 contracts. To Sum It up, Long unwinding in the Nifty Futures(No fresh short build up), long build up in the Bank Nifty futures and Put writing at 18000-18100 levels Indicates that one should remain optimistic for the markets.
Therefore, If Nifty opens lower as SGX Nifty is suggesting, our advise is to accumulate longs with the stop loss of 18000 levels. On the higher side 18200 - 18300 levels will act as a strong resistance.
In the Bank Nifty, which outperformed the Nifty yesterday, our advice is to go long on dips with SL of 37500 levels. On the higher side 38500- 39000 level may act as resistance going forward.
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