Nifty Open Interest Put Call ratio fell to 1.09 levels from 1.22 levels - HDFC Securities Ltd
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F&O Highlights
SHORT COVERING WAS SEEN IN THE NIFTY & BANK NIFTY FUTURES
Create longs on dips with the SL of 25750 levels.
* In yesterday’s session after opening 31 points higher on the back of strong global cues, Nifty advanced steadily through the first half, hitting an intraday high of 26,010. However, post 1:45 p.m., the momentum reversed sharply as the index slipped 144 points from its peak. Despite the late profit booking, Nifty managed to end flat with a marginal gain of 3 points at 25,779.
* Short Covering was seen in the Nifty Futures where Open Interest fell by 0.30% with Nifty rising by 0.01%.
* Short Covering was seen in the Bank Nifty Futures where Open Interest fell by 6.98% with Bank Nifty rising by 0.18%.
* Nifty Open Interest Put Call ratio fell to 1.09 levels from 1.22 levels.
* Amongst the Nifty options (18-Nov Expiry), Call writing is seen at 25900-26000 levels, indicating Nifty is likely to find strong resistance in the vicinity of 25900-26000 levels. On the lower side, an immediate support is placed in the vicinity of 25700-25800 levels where we have seen Put writing.
* Short covering was seen by FII's’ in the Index Futures segment where they net bought worth 454 cr with their Open Interest going down by 4343 contracts.
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