IGI Logo

LONG BUILD UP WAS SEEN BY FII’S IN THE INDEX FUTURES

Create Longs on dips with the SL of 24250 Levels.

* It was yet another muted day for Nifty as it closed almost flat with a minor fall of 1.75 points, closing at 24334.

* Short Build-Up was seen in the Nifty Futures where Open Interest rose by 2.19% with Nifty falling by 0.01%.

* Long Unwinding was seen in the Bank Nifty Futures where Open Interest fell by 2.45% with Bank Nifty falling by 0.55%.

* Nifty Open Interest Put Call ratio rose to 1.16 levels from 1.13 levels.

* Amongst the Nifty options (08-May Expiry), Call writing is seen at 24500-24600 levels, indicating Nifty is likely to find strong resistance in the vicinity of 24500-24600 levels. On the lower side, an immediate support is placed in the vicinity of 24200-24300 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 1,420 cr with their Open Interest going up by 3139 contracts.

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ00017133