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Nifty Open Interest Put Call ratio rose sharply to 1.32 levels from 1.14 levels- HDFC Securities 

F&O HIGHLIGHTS

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

REMAIN BULLISH WITH THE STOPLOSS OF 14700 LEVELS

*Nifty ended higher by whooping 337 points to close at 13845 levels

*Long build up was seen in Nifty Futures’ where Open Interest rose by 21% with Nifty rising by 2.33%.

*Long build up was also seen in the Bank Nifty Futures, where we have seen 6% rise in the Open Interest with Bank Nifty rising by 1.7%.

*Nifty Open Interest Put Call ratio rose sharply to 1.32 levels from 1.14 levels. Amongst the Nifty options (01-April Expiry), Put writing was seen 14700-14600 levels, Indicating 14700 level will act as a strong support going forward. On the higher side, resistance is seen around 14900- 15000 levels where we have seen addition in Calls.

To Sum It Up, long build up in the Nifty and Bank Nifty futures and sharp rise in Put call ratio on the back of Put writing Indicates that one should be optimistic for the markets

Therefore, our advise is to hold long positions with the stop loss of 14700 levels. On the higher side resistance is seen around 14900-15000 levels where Calls have been written.

In the Bank Nifty, our advice is to remain bullish with stop loss of 33500 levels. On the higher side, resistance is seen in the vicinity of 34300-34600 levels

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