Nifty Open Interest Put Call ratio rose to 1.08 levels from 0.78 levels - HDFC Securities Ltd
F&O Highlights
SHORT COVERING WAS SEEN IN NIFTY FUTURES
Create longs with the SL of 24550 levels.
* After experiencing profit booking yesterday, the Nifty recovered most of its losses today, gaining 131 points (0.54%) to close at 24619. The index reclaimed its position above the 5- day exponential moving average (DEMA), which is now at 24568, and support has shifted up to 24465.
* Short Covering was seen in the Nifty Futures where Open Interest fell by 0.21% with Nifty rising by 0.54%.
* Long Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 1.68% with Bank Nifty rising by 0.25%.
* Nifty Open Interest Put Call ratio rose to 1.08 levels from 0.78 levels.
* Amongst the Nifty options (14-Aug Expiry), Call writing is seen at 24700-24800 levels, indicating Nifty is likely to find strong resistance in the vicinity of 24700-24800 levels. On the lower side, an immediate support is placed in the vicinity of 24600-24500 levels where we have seen Put writing.
* Long build-up was seen by FII's in the Index Futures segment where they net bought worth 461 cr with their Open Interest going up by 769 contracts.
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