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F&O HIGHLIGHTS

MARKET MAY MOVE SIDEWAYS IN TODAY’S SESSION INSPITE OF EXPIRY  - HDFC Securities 

ACCUMULATE LONGS ON DECLINE IN NIFTY WITH SL OF 15600 LEVELS

* After a tumultuous trading session on Wednesday, the Nifty ended with slight losses. The Nifty reached a day high of 15,861.60 in the mid- afternoon trade before settling slightly below the 15,800 mark. Investor sentiment remained largely depressed following a decline in U.S. consumer confidence to its lowest level in more than a year in June, tracking weakness across international markets. Investor sentiment was further depressed by lingering worries about a potential recession in the wake of aggressive rate hikes by major global central banks.

* Long unwinding was seen in the Nifty Futures where Open Interest fell by 0.90% with Nifty falling by 0.32%.

* On the other hand, Short build up was seen in the Bank Nifty Futures where Open Interest rose by 3.71% with Bank Nifty falling by 1.11%.

* Nifty Open Interest Put Call ratio rose to 1.05 level from 0.98 levels. Amongst the Nifty options (30-June Expiry), Call writing is seen at 15900-16000 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 15900 - 16000 levels. On the lower side, an immediate support is seen in the vicinity of 15600-15700 levels where we have seen Put writing .

* Long unwinding is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 2413 Cr with their Open Interest going down by 6729 contracts.

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