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LONG BUILD UP WAS SEEN IN NIFTY FUTURES

Create Longs On Decline With Sl Of 23650 Levels.

* The Nifty rebounded nearly 100 points to reclaim the 23,700 mark after yesterday’s steep decline. Despite early volatility, trading stabilized for the remainder of the day.

* Long Build-Up was seen in the Nifty Futures where Open Interest rose by 2.19% with Nifty rising by 0.39%.

* Short Covering was seen in the Bank Nifty Futures where Open Interest fell by 3.78% with Bank Nifty rising by 0.56%.

* Nifty Open Interest Put Call ratio rose to 0.82 levels from 0.72 levels.

* Amongst the Nifty options (09-Jan Expiry), Call writing is seen at 23900-24000 levels, indicating Nifty is likely to find strong resistance in the vicinity of 23900-24000 levels. On the lower side, an immediate support is placed in the vicinity of 23600-23700 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 35 cr with their Open Interest going up by 17818 contracts.

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