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Nifty ended marginally higher by 18.10 and closed at 14956.20 levels - HDFC Securities 

F&O HIGHLIGHTS

MINOR LONG BUILD UP WAS SEEN IN THE NIFTY & BANKNIFTY FUTURES

REMAIN CAUTIOUS TILL NIFTY CLOSES ABOVE 15100 LEVEL

* Nifty ended marginally higher by 18.10 and closed at 14956.20 levels

* Minor long buildup was seen in Nifty Futures’ where Open Interest rose by 0.1% with Nifty rising by 0.1%.

* Long buildup was also seen in the Bank Nifty Futures where we have seen 3% rise in the Open Interest with Bank Nifty closed 0.14% higher.

* Nifty Open Interest Put Call ratio fell to 1.06 levels from 1.12 levels. Amongst the Nifty options (10-March), Call writing was seen 15100 level, Indicating 15100 level to act as a resistance going forward. On the lower side, immediate support is seen in the vicinity of 14900-14800 levels where Puts have been written.

* Short build up is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 858 Cr with their Open Interest going up by 74 contracts.

To Sum It up, Fall in nifty open interest PCR on the back of Call writing at 15100 levels and Short build up by FII’s in Cash and Index Futures segment indicates that one should remain cautious for the market till Nifty sustain above 15100.

Therefore, our advise is remain cautious/bearish with the strict SL of 15100 levels. On the lower side support is seen around 14800 levels where Puts have been In the Bank Nifty our advice is to remain bearish with the stop loss of 36000 levels. On the lower side, support is seen in the vicinity of 34900-34600 levels

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