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F&O HIGHLIGHTS

LONG BUILD UP WAS SEEN IN THE NIFTY FUTURES

GO LONG IN THE NIFTY WITH STOP LOSS AT 17200 LEVEL.

* The Nifty closed near the day's high on Tuesday, supported by positive global stocks. The market was in the green throughout the session. The Nifty managed to settle above 17,300 mark after hitting a low of 17,235.70 in afternoon trade. Pharma, healthcare and financial stocks were in demand. Media, PSU banks and oil & gas stocks declined. Nifty finally closed up 0.60% at 17325.30 levels.

* Long build up was seen in the Nifty Futures where Open Interest rose by 4.06% with Nifty rising by 0.60%.

* On the other hand,short covering was seen in the Bank Nifty Futures where Open Interest fell marginally by 0.21% with Bank Nifty rising by 0.38%

* Nifty Open Interest Put Call ratio rose to 1.08 levels from 0.93 levels. Amongst the Nifty options (31-Mar Expiry), Call writing is seen at 17400-17500 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 17400 - 17500 levels. On the lower side, an immediate support is seen in the vicinity of 17100-17200 levels where we have seen Put writing .

* long build up is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 680 Cr with their Open Interest going up by 8209 contracts. To Sum It up, Long build up in the Nifty Futures, Long build up by FII’s in the Index futures and Put writing at 17100-17200 levels Indicates that traders can remain optimistic for the markets. Therefore, our advise is to go long with SL of 17200 levels. On the higher side 17400-17500 level will act as a resistance where we have seen Call writing. In the Bank Nifty, our advice is to go longs by keeping with SL at 36000 levels.

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