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LONG BUILD UP WAS SEEN BY FII’S IN THE INDEX FUTURES

Create shorts with the SL of 24250 Levels

* Indian equity markets closed sharply lower on Thursday following a volatile session. Rising geopolitical tensions and the impact of weekly derivatives expiry triggered broad-based selling. The Nifty finally ended the day with losses of 140 points, or 0.58%, to close at 24273.

* Long Unwinding was seen in the Nifty Futures where Open Interest fell by 1.49% with Nifty falling by 0.58%.

* Short Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 1.15% with Bank Nifty falling by 0.45%.

* Nifty Open Interest Put Call ratio fell to 1.08 levels from 1.15 levels.

* Amongst the Nifty options (15-May Expiry), Call writing is seen at 24200-24300 levels, indicating Nifty is likely to find strong resistance in the vicinity of 24200-24300 levels. On the lower side, an immediate support is placed in the vicinity of 23800-23900 levels where we have seen Put writing.

* Long build-up was seen by FII's in the Index Futures segment where they net bought worth 1,339 cr with their Open Interest going up by 5260 contracts.

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