Nifty Open Interest Put Call ratio fell to 0.72 levels from 0.94 levels - HDFC Securities Ltd
F&O Highlights
SHORT BUILD UP WAS SEEN IN THE NIFTY FUTURES
Create shorts with the SL of 25400 levels.
* Nifty fell for the second straight session with a fall of 124 points or 0.49%, to close at 25202. From the recent swing high of 25448, Nifty witnessed a fall of almost 300 points. This marks a sharp correction of nearly 300 points from the recent weekly swing high of 25,448.
* Short Build-Up was seen in the Nifty Futures where Open Interest rose by 0.75% with Nifty falling by 0.49%.
* Long Unwinding was seen in the Bank Nifty Futures where Open Interest fell by 2.97% with Bank Nifty falling by 0.31%.
* Nifty Open Interest Put Call ratio fell to 0.72 levels from 0.94 levels. PCR was near oversold territory.
* Amongst the Nifty options (23-Sep Expiry), Call writing is seen at 25400-25500 levels, indicating Nifty is likely to find strong resistance in the vicinity of 25400-25500 levels. On the lower side, an immediate support is placed in the vicinity of 25100-25200 levels where we have seen Put writing.
* Short covering was seen by FII's’ in the Index Futures segment where they net bought worth 475 cr with their Open Interest going down by 1371 contracts.
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