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Nifty continued its upward journey for the fifth day - HDFC Securities 

F&O HIGHLIGHTS

LONG BUILD UP WAS SEEN IN THE NIFTY & BANK NIFTY FUTURES

REMAIN BULLISH WITH SL OF 14800

* Nifty continued its upward journey for the fifth day in the row where it rose by 29 points to close at 14924 levels.

* Long build up was seen in Nifty Futures’ where Open Interest rose by 1% with Nifty rising by 0.19%.

* Minor Long build up was seen in the Bank Nifty Futures too, where we have seen 0.2% rise in the Open Interest with Bank Nifty rising by 0.9%.

* Nifty Open Interest Put Call Ratio fell sharply to 1.41 levels from 1.62 levels. Amongst the Nifty options (11-Feb Expiry), Put writing was seen at 14800-15000 levels, Indicating 14800 level will act as a support. On the higher side, resistance is seen in the vicinity of 15000-15100 levels where we have seen Call writing.

* Long unwinding was seen by FIIS’ in the Index Futures segment where they net sold worth Rs 461 Cr with their Open Interest going down by 2068 contracts.

To Sum It Up, Long build up in the Nifty and Bank Nifty Futures and Put writing at 14800-15000 levels Indicates that one should continue to remain bullish for the markets Therefore, our advise is remain bullish with the stop loss of 14800 levels.

On the higher side 15000-15100 level will act as an immediate resistance where Calls have been written In the Bank Nifty, our advice is to buy on decline with the stop loss of 35000 levels. On the higher side, resistance is seen in the vicinity of 36000-36500 levels.

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