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F&O HIGHLIGHTS

SHORT BUILD UP IS SEEN IN THE NIFTY & BANK NIFTY FUTURES

STRONG SUPPORT IS SEEN IN THE VICINITY OF 17200-17300 LEVELS

* Nifty continued its downward journey for the third day on the trot, where it fell by 55 points or 0.31% on Wednesday to close at 17476 levels.

* Short build up is seen in the Nifty Futures where Open Interest rose by 4% with Nifty falling by 0.31%.

* Short build up is seen in the Bank Nifty Futures too where Open Interest rose by 8% with Bank Nifty falling by 0.8%.

* Amongst the Nifty options (21-April Expiry), Call writing is seen at 17500-17600 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 17500 - 17600 levels. On the lower side, an immediate support is seen in the vicinity of 17200-17300 levels where we have seen Put writing .

* Short build up is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 2005 Cr with their Open Interest going up by 9538 contracts. To Sum It up, Short build up in the Nifty and Bank Nifty Futures, Call writing at 17500-17600 levels and short build up by FIIs in the Index Futures segment Indicates that one should remain cautious for the markets. However on the lower side 17200-17300 level to act as a strong support where puts have been written.

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