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Nifty Open Interest Put Call ratio fell to 0.99 level on Monday from 1.16 levels - HDFC Securities

F&O HIGHLIGHTS

MINOR LONG BUILD UP WAS SEEN IN THE NIFTY FUTURES

HOLD LONGS WITH THE STOP LOSS OF 18000 LEVELS​​​​​​​

* Nifty Future witnessed volatile session on Monday where it ended higher with the gains of 7 pointsto close at 18141 levels.

* Minor Long build up is seen in the Nifty Futures where Open Interest rose by 2% with Nifty rising by 0.04%.

* Short build up is seen in the Bank Nifty Futures where Open Interest rose by 6% with Bank Nifty falling by 0.08%.

* Nifty Open Interest Put Call ratio fell to 0.99 level on Monday from 1.16 levels . Amongst the Nifty options (18-Nov Expiry), Call writing is seen in the vicinity of 18200 -18300 levels, Indicating Nifty is likely to find resistance in the vicinity of 18200 - 18300 levels. On the lower side, an immediate support is seen in the vicinity of 18000 - 17900 levels where we have seen Put writing.

* Short build up is seen by FIIS’ in the Index Futuressegment where they net sold worth Rs 291 Cr with their Open Interest going up by 1725 contracts.

To Sum It up, Long build up in the Nifty futures and Put writing at 18000 levels Indicates that Indicatesthat one should be optimistic for the markets.

Therefore, our advise is to hold longs with the strict stop loss of 18000 levels. On the higher side 18200-18300 levels will act as a strong resistance.

In the Bank Nifty, our advice is to hold long with strict stoploss of 38600 levels. On the higher side 39100-39400 level may act as resistance going forward.

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