The Nifty opened the week on a positive note and maintained above 5200 levels since the beginning of the week till the end. However, it could not
close above 5300 levels, even after crossing it twice in a week since January 4. A long build-up was seen during the Monday-Wednesday period.
On Friday, Nifty February futures closed at 5249 levels with five points premium to the Nifty and 17-points loss. The Open Interest decreased by 1%. Long unwinding was seen in Nifty February futures on Thursday and Friday. Put Call Ratio (V), after remaining above one with a high of 1.27 and a low of 1.12 during the week, which shows trading activity on the Put side was of little more interest, but good for market health.
Overall, a long build-up was seen and no major sign of short build-up was seen. In the February series, a maximum open interest was seen on 5300/5400 Calls. On Thursday and Friday, a short build-up was seen in 5300 Call and Open Interest was increased above 10% on both days, which shows the 5300 level to be an effective resistance for further price advance. On the Put side, a maximum Open Interest was seen in 5000/5200 /5100 Puts and a long build-up was seen in 5200/5100 Puts. However, open interest was not so huge.
F&O cues are showing resistance from 5300 levels and support at 5100-5200. Technically, a decisive price rally has not been taking place in major indices of the US, Europe and Asian markets.
source-economictimes.indiatimes.com close above 5300 levels, even after crossing it twice in a week since January 4. A long build-up was seen during the Monday-Wednesday period.
On Friday, Nifty February futures closed at 5249 levels with five points premium to the Nifty and 17-points loss. The Open Interest decreased by 1%. Long unwinding was seen in Nifty February futures on Thursday and Friday. Put Call Ratio (V), after remaining above one with a high of 1.27 and a low of 1.12 during the week, which shows trading activity on the Put side was of little more interest, but good for market health.
Overall, a long build-up was seen and no major sign of short build-up was seen. In the February series, a maximum open interest was seen on 5300/5400 Calls. On Thursday and Friday, a short build-up was seen in 5300 Call and Open Interest was increased above 10% on both days, which shows the 5300 level to be an effective resistance for further price advance. On the Put side, a maximum Open Interest was seen in 5000/5200 /5100 Puts and a long build-up was seen in 5200/5100 Puts. However, open interest was not so huge.
F&O cues are showing resistance from 5300 levels and support at 5100-5200. Technically, a decisive price rally has not been taking place in major indices of the US, Europe and Asian markets.
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