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F&O HIGHLIGHTS

SHORT BUILD UP WAS SEEN IN NIFTY FUTURES

ACCUMULATE SHORTS WITH SL OF 16600 LEVELS

* The Nifty ended with small losses on Monday. Investors were cautious ahead of Reserve Bank of India (RBI)'s policy announcement later this week. The Nifty ended above the 16,550 mark, recovering from the day's low of 16,444.55 in early trade. Metals, oil & gas and private banks shares advanced while media, realty and consumer durables were under pressure. Nifty finally closed down by 0.09% at 16569 level.

* Short build up was seen in the Nifty Futures where Open Interest rose by 8.79% with Nifty falling by 0.09%.

* On the other hand, minor short covering was seen in the Bank Nifty Futures where Open Interest fell by 0.97% with Bank Nifty rising by 0.10%.

* Nifty Open Interest Put Call ratio fell marginally to 0.94 level from 0.97 levels. Amongst the Nifty options (09-June Expiry), Call writing is seen at 16600- 16700 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 16600 - 16700 levels. On the lower side, an immediate support is seen in the vicinity of 16300-16400 levels where we have seen Put writing .

* Short build up was seen by FIIS’ in the Index Futures segment where they net sold worth Rs 418 Cr with their Open Interest going up by 15522 contracts.

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