Short Cover Is Seen In The Nifty Futures - HDFC Securities
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F&O HIGHLIGHTS
SHORT COVERING IS SEEN IN THE NIFTY FUTURES
HOLD LONGS WITH SL OF 17100 LEVELS???????
* Nifty witnessed buying interest during second half of the session and ended higher, where it gained by 42.70 points to close at 17388.15 levels
* Short covering is seen in the Nifty Futures where Open Interest fell by 4% with Nifty futures rising by 0.35%.
* On the other hand, Minor long build up is seen in the Bank Nifty Futures, where Open Interest rose by 0.70% with Bank Nifty futures rising by 0.02%.
* Nifty Open Interest Put Call ratio fell to 1.28 level from 1.38 levels. Amongst the Nifty options (04-July Expiry), Call writing is seen at 17500-17600 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 17500 - 17600 levels. On the lower side, an immediate support is seen in the vicinity of 17300-17200 levels where we have seen Put writing .
* Long unwinding is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 575 Cr with their Open Interest going down by 4250 contracts.
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