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Nifty fell more than hundred point from the intraday high and finally ende - HDFC Securities 

LONG UNWINDING WAS SEEN IN THE NIFTY FUTURES

BE BEARISH WITH SL OF 15200

* Nifty fell more than hundred point from the intraday high and finally ended the day with the losses of 143 point to close at 15030 levels.

* Long unwinding was seen in Nifty Futures’ where Open Interest fell by 1% with Nifty falling by 0.95%.

* Massive Short build up was seen in the Bank Nifty Futures, where we have seen 11% rise in the Open Interest with Bank Nifty falling by 1.23%.

 * Amongst the Nifty options (18-Feb Expiry), Call writing was seen at 15200-15300 levels, Indicating 15200-15300 levels will act as a strong resistance. On the lower side, support is seen around 15000 where we have seen Put writing.

* Long unwinding was seen by FIIS’ in the Index Futures segment where they net sold worth Rs 586 Cr with their Open Interest going down by 2457 contracts.

To Sum It Up, Long unwinding in the Nifty, Short build up in Bank Nifty Futures and long unwinding by the FIIs’ in the Index Futures segment Indicates that one should remain cautious for the markets

Therefore, our advise is remain bearish with the stop loss of 15200 levels On the lower side 15000-14900 levels will act as a support where Puts have been written

In the Bank Nifty, our advice is to remain bearish with the stop loss of 36400 level. On the lower side, support is seen in the vicinity of 35000-34800 levels.

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