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Nifty Open Interest Put Call ratio rose to 0.84 from 0.73 levels - HDFC Securities

F&O HIGHLIGHTS

LONG BUILD UP IS SEEN IN THE NIFTY FUTURES

ACCUMULATE LONGS WITH THE STOP LOSS OF 16900 LEVELS​​​​​​​

* Nifty Futures ended on an positive note with the gains of 43 points to close at 17094.90 levels.

* Long build up is seen in the Nifty Futures where Open Interest rose by 0.6% with Nifty rising by 0.3%.

* Long unwinding is seen in the Bank Nifty Futures where Open Interest fell by 9% with Bank Nifty falling by 0.14%.

* Nifty Open Interest Put Call ratio rose to 0.84 from 0.73 levels. Amongst the Nifty options (02-Dec Expiry), Put writing is seen at 17000-16900 levels, Indicating Nifty is likely to find support in the vicinity of 17000 – 16900 levels. On the higher side, an immediate resistance is seen in the vicinity of 17200 - 17300 levels where we have seen Call writing.

* Long build up is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 2152 Cr with their Open Interest going up by 8965 contracts.

To Sum It up, Long build up in the Nifty futures, Put writing at 17000-16900 and Long build up by FIIS’ in the index futures segment Indicates that one should be optimistic for the markets.

Therefore, our advise is to accumulate longs with the stop loss of 16900 levels. On the higher side 17200-17300 levels will act as a strong resistance.

In the Bank Nifty, our advice is to go long with SL of 35500 levels. On the higher side 36500-37000 level may act as resistance going forward.

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