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LONG BUILD UP WAS SEEN IN THE NIFTY & BANK NIFTY FUTURES

Create Longs on dips with the SL Of 23000 Levels

* After yesterday’s drubbing, Nifty saw a pullback of 136 points, or 0.60%, to close at 23160. It was a volatile session that eventually ended in the green, led by gains in heavyweight sectors such as Information Technology (IT) and banking

* Long Build-Up was seen in the Nifty Futures where Open Interest rose by 0.52% with Nifty rising by 0.57%.

* Long Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 2.45% with Bank Nifty rising by 0.32%.

* Nifty Open Interest Put Call ratio rose to 0.88 levels from 0.77 levels.

* Amongst the Nifty options (23-Jan Expiry), Call writing is seen at 23200-23300 levels, indicating Nifty is likely to find strong resistance in the vicinity of 23200-23300 levels. On the lower side, an immediate support is placed in the vicinity of 23000-23100 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 971 cr with their Open Interest going up by 7467 contracts.

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