Nifty Open Interest Put Call ratio rose to 1.01 levels from 0.97 levels - HDFC Securities
LONG BUILD UP WAS SEEN IN NIFTY & BANK NIFTY FUTURES
Create Longs on dips with the SL Of 23200 Levels.
* Indian markets rallied for the fourth consecutive session on January 31, with the Sensex and Nifty gaining over 1 percent amid pre-Budget optimism.
* Long Build-Up was seen in the Nifty Futures where Open Interest rose by 3.13% with Nifty rising by 1.11%.
* Long Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 7.20% with Bank Nifty rising by 0.56%.
* Nifty Open Interest Put Call ratio rose to 1.01 levels from 0.97 levels.
* Amongst the Nifty options (06-Feb Expiry), Call writing is seen at 23700-23800 levels, indicating Nifty is likely to find strong resistance in the vicinity of 23700-28500 levels. On the lower side, an immediate support is placed in the vicinity of 22900-23000 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 209 cr with their Open Interest going up by 6079 contracts.
* On back of budgetary announcement Nifty may witness higher volatility
Nifty
Bank Nifty
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