Nifty Open Interest Put Call ratio rose to 0.80 levels from 0.64 levels - HDFC Securities Ltd
LONG BUILD UP WAS SEEN IN THE BANK NIFTY FUTURES
Create Longs with the SL of 24700 Levels.
* Breaking a three-session losing streak, the Nifty gained 140 points (0.57%) to close at 24821. After opening 71 points lower, the index immediately reversed course, staging a recovery of almost 250 points from its early morning low of 24598 to reach 24847.
* Short Covering was seen in the Nifty Futures where Open Interest fell by 1.53% with Nifty rising by 0.57%.
* Long Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 0.48% with Bank Nifty rising by 0.24%.
* Nifty Open Interest Put Call ratio rose to 0.80 levels from 0.64 levels.
* Amongst the Nifty options (31-Jul Expiry), Call writing is seen at 24900-25000 levels, indicating Nifty is likely to find strong resistance in the vicinity of 24900-25000 levels. On the lower side, an immediate support is placed in the vicinity of 24700-24800 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 1,117 cr with their Open Interest going up by 46 contracts.
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