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Nifty Open Interest Put Call ratio rose to 1.33 levels from 1.25 levels -  HDFC Securities

F&O HIGHLIGHTS

LONG BUILD UP IS SEEN IN THE NIFTY FUTURES

HOLD LONGS WITH THE STOP LOSS OF 18100 LEVELS

* Nifty witnessed choppy session on Monday, supported by auto sector, where it ended marginally higher by 41.60 points or 0.23% to close at 18308.10 levels.

* Long build up is seen in the Nifty Futures where Open Interest rose by 1.73% with Nifty rising by 0.23%.

* Long unwinding up is seen in the Bank Nifty Futures where Open Interest fell by 0.4% with Bank Nifty falling by 0.4%.

* Nifty Open Interest Put Call ratio rose to 1.33 levels from 1.25 levels. Amongst the Nifty options (20-Jan Expiry), Put writing is seen at 18200-18100 levels, Indicating Nifty is likely to find strong support in the vicinity of 18200 - 18100 levels. On the higher side, an immediate resistance is seen in the vicinity of 18400-18500 levels where we have seen Call writing.

* Long unwinding is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 828 Cr with their Open Interest going down by 2806 contracts. To Sum It up, Long build up in the Nifty and rise in Put Call ratio on the back of Put writing at 18200-18100 levels Indicates that one should be remain bullish for the markets. Therefore, our advise is to accumulate longs with the stop loss of 18100 levels. On the higher side 18400 - 18500 levels will act as a strong resistance. In the Bank Nifty, our advice is to hold on dips with the strict SL of 37500 levels. On the higher side 38500- 38900 level may act as resistance going forward

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