IGI Logo

F&O HIGHLIGHTS

LONG UNWINDING WAS SEEN IN THE NIFTY & BANK NIFTY FUTURES

GO LONG IN NIFTY IF IT STARTS TRADING ABOVE 17200 LEVELS.​​​​​​​

* The Nifty ended with modest losses on Friday. The Nifty closed a tad above the 17,150 level. While most sectoral indices on the NSE ended in the red, realty, oil & gas and PSU banks advanced. Nifty finally closed down by 0.40% at 17153 levels.

* Long unwinding was seen in the Nifty Futures where Open Interest fell by 0.71% with Nifty falling by 0.40%.

* Long unwinding was also seen in the Bank Nifty Futures where Open Interest fell by 0.42% with Bank Nifty falling by 0.33%.

* Nifty Open Interest Put Call ratio fell to 0.94 levels from 1.04 levels. Amongst the Nifty options (31-Mar Expiry), Call writing is seen at 17200-17300 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 17200 - 17300 levels. On the lower side, an immediate supportis seen in the vicinity of 16900-17000 levels where we have seen Put writing .

* Long unwinding was also seen by FIIS’ in the Index Futures segment where they net sold worth Rs 225 Cr with their Open Interest going down by 1841 contracts. To Sum It up, Long unwinding in Nifty & Bank Nifty Futures(No short build up) and Put writing at 16900-17000 levels Indicatesthat downside is limited in the markets. Therefore, our advise is to go long If Nifty starts trading above 17200 levels with SL of 17000 levels. In the Bank Nifty, our advice is to go longs If Bank Nifty starts trading above 35500 levels with SL of 35000 levels.

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