Nifty Open Interest Put Call ratio fell to 0.71 levels from 0.82 levels - HDFC Securities Ltd
SHORT BUILD UP WAS SEEN IN THE NIFTY FUTURES
Create Shorts with the SL Of 22750 Levels.
* The Nifty extended its losing streak to a fifth consecutive session, succumbing to weak global cues and shedding 242 points (1.06%) to close at 22,553 – its lowest close since June 5, 2024.
* Short Build-Up was seen in the Nifty Futures where Open Interest rose by 4.46% with Nifty falling by 1.06%.
* Long Unwinding was seen in the Bank Nifty Futures where Open Interest fell by 1.01% with Bank Nifty falling by 0.67%.
* Nifty Open Interest Put Call ratio fell to 0.71 levels from 0.82 levels.
* Amongst the Nifty options (27-Feb Expiry), Call writing is seen at 22700-22800 levels, indicating Nifty is likely to find strong resistance in the vicinity of 22700-22800 levels. On the lower side, an immediate support is placed in the vicinity of 22500-22400 levels where we have seen Put writing.
* Short build-up was seen by FII's in the Index Futures segment where they net sold worth 1,391 cr with their Open Interest going up by 14545 contracts.
Nifty : Trend remains down; Watch the next key support of 22450.
Bank Nifty Index :Downtrend is intact, trend may reverse above 48750.
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