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Nifty Open Interest Put Call ratio rose to 1.15 levels from 0.97 levels -  HDFC Securities

F&O HIGHLIGHTS

SHORT COVERING IS SEEN IN THE NIFTY & BANK NIFTY FUTURES

HOLD LONG POSITION WITH THE TRAILING STOP LOSS OF 17600

* Nifty ended on a strong note, where it rose by 203 points or 1.16% to close at 17780 levels.

* Short covering is seen in the Nifty Futures where Open Interest fell by 0.72% with Nifty rising by 1.2%.

* Short covering is also seen in the Bank Nifty Futures where Open Interest fell by 0.85% with Bank Nifty rising by 2.1%.

* Nifty Open Interest Put Call ratio rose to 1.15 levels from 0.97 levels. Amongst the Nifty options (03-Feb Expiry), Put writing is seen at 17700-17600 levels, Indicating Nifty is likely to find strong support in the vicinity of 17700 - 17600 levels. On the higher side, an immediate resistance is seen in the vicinity of 17800-17900 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 1697 Cr with their Open Interest going up by 3227 contracts.

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