IGI Logo

Nifty resumed its uptrend on Monday on the back of strong global cues - HDFC Securities 

F&O HIGHLIGHTS

SHORT BUILD UP WAS SEEN IN THE NIFTY FUTURES

REMAIN BEARISH WITH TRALING SL OF 15300

* Nifty fell more than hundred point on the back of weak global cues to close at 15209 levels

* Short build up was seen in Nifty Futures’ where Open Interest rose by 3% with Nifty falling by 0.68%

* Massive Long unwinding was seen in the Bank Nifty Futures, where we have seen 9% fall in the Open Interest with Bank Nifty falling by 0.5%.

* Nifty open Interest fell to 1.17 levels from 1.29 levels. Amongst the Nifty options (18-Feb Expiry), Call writing was seen at 15300 levels, Indicating 15300 level will act as a strong resistance. On the lower side, support is seen around 15000-15100 where we have seen Put writing

* Long unwinding was seen by FIIS’ in the Index Futures segment where they net sold worth Rs 182 Cr with their Open Interest going down by 10204 contracts.

To Sum It Up, Short build up in the Nifty Futures, Long unwinding in the Bank Nifty Futures, fall in the Nifty Open Interest Put Call ratio on the back of Call writing at 15300 levels and long unwinding by the FIIs’ in the Index Futures segment Indicates that one should continue to remain cautious for the markets

Therefore, our advise is remain bearish with the stop loss of 15300 levels. On the lower side 15000-15100 level 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 37500 levels. On the lower side, support is seen in the vicinity of 36200-36500 levels.

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