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Nifty : The market is in a consolidation mode post decisive breakout. Higher possibility of bounce back from near the crucial support of 26200-26150

Nifty Realty : Formation of important bottom reversal pattern. Outperformance of selective Realty stocks could be continued

F&O Highlights

PUT WRITING WAS SEEN AT 26100-26200 LEVELS

Create longs with the SL of 26200 levels

* The Nifty index ended its three-day winning streak on Monday, slipping 89 points to close at 26,239. The session began on a positive note, opening 5 points higher, and extended gains during the first two hours of trade. However, selling pressure intensified after 11:15 a.m., dragging the Nifty more than 150 points from its intraday high to hit a low of 26,210 around 2:30 p.m.

* Short Build-Up was seen in the Nifty Futures where Open Interest rose by 1.08% with Nifty falling by 0.30%.

* Long Unwinding was seen in the Bank Nifty Futures where Open Interest fell by 2.75% with Bank Nifty falling by 0.18%.

* Nifty Open Interest Put Call ratio fell to 1.00 levels from 1.46 levels.

* Amongst the Nifty options (06-Jan Expiry), Call writing is seen at 26400-26500 levels, indicating Nifty is likely to find strong resistance in the vicinity of 26400-26500 levels. On the lower side, an immediate support is placed in the vicinity of 26100-26200 levels where we have seen Put writing.

* Short covering was seen by FII's’ in the Index Futures segment where they net bought worth 401 cr with their Open Interest going down by 2527 contracts

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