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Nifty finally closed down marginally by 0.05% at 14736.40- HDFC Securities 

F&O HIGHLIGHTS

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

BE BEARISH WITH SL OF 14800 LEVEL

*Markets ended with minor cuts after a volatile session on Monday. Losses in private banks offset gains in IT and FMCG shares. After briefly slipping below the 14,600 mark in afternoon trade, the Nifty 50 index recovered over 137 points from the day's low and ended near the flat line. Mixed global cues and rising COVID-19 cases in India spoiled sentiment. Nifty finally closed down marginally by 0.05% at 14736.40.

*Bank Nifty too saw build up of short positions, where we have seen 5.05% rise in the Open Interest with Bank Nifty falling by 1.38%.Short build up was seen in Nifty Futures’ where Open Interest rose by 4.71% with Nifty falling marginally by 0.05%

*Amongst the Nifty options (25-MAR Expiry), Call writing was seen at 14800 - 15000 levels, Indicating 14800 - 15000 levels will act as a strong resistance. On the lower side, support is seen around 14500 where we have, maximum put outstanding.

To Sum It Up, Short build up in both Nifty and Bank Nifty Futures and fall in the Nifty Open Interest Put Call ratio on the back of Call writing at 14800 - 15000 levels Indicates that one should remain cautious for the markets

Therefore, our advise is remain bearish with the stop loss of 14800 level. On the lower side 14500 - 14600 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 34500 level. On the lower side, support is seen in the vicinity of 33400 – 33000 levels.

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