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F&O HIGHLIGHTS

SHORT COVERING IS SEEN IN THE NIFTY & BANK NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 17500 LEVELS

* Nifty managed to close higher amid volatile session, where it gained by 27.45 points to close at 17604.95 levels

* Short covering is seen in the Nifty Futures where Open Interest fell by 3% with Nifty rising by 0.16%.

* Short covering is seen in the Bank Nifty Futures too, where Open Interest fell by 6.5% with Bank Nifty rising by 0.88%.

* Nifty Open Interest Put Call ratio rose to 1.00 level from 0.98 levels. Amongst the Nifty options (25-Aug Expiry), Put writing is seen at 17500-17400 levels, Indicating Nifty is likely to find strong support in the vicinity of 17500 - 17400 levels. On the higher side, an immediate resistance is seen in the vicinity of 17700-17800 levels where we have seen Call writing .

* Long unwinding is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 1329 Cr with their Open Interest going down by 12212 contracts.

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