IGI Logo

F&O HIGHLIGHTS

SHORT COVERING IS SEEN IN THE NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 16500 LEVELS

* Nifty continued its upward journey for the sixth day in the row, where it gained by 114 points to close at 16719 levels

* Short covering is seen in the Nifty Futures where Open Interest fell by 4% with Nifty rising by 0.69%.

* On the other hand, Long build up is seen in the Bank Nifty Futures, where Open Interest rose by 8% with Bank Nifty rising by 1.49%.

* Nifty Open Interest Put Call ratio rose to 1.42 level from 1.41 levels. Amongst the Nifty options (28-July Expiry), Call writing is seen at 16800-17000 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 16800 - 17000 levels. On the lower side, an immediate support is seen in the vicinity of 16500-16600 levels where we have seen Put writing .

* Short covering is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 1182 Cr with their Open Interest going down by 4063 contracts.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ000171337

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer