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F&O HIGHLIGHTS

PCR IS HEADING TOWARDS OVERSOLD REGION

ACCUMULATE LONGS BY KEEPING SL OF 18200 LEVELS

* Nifty fell for the second consecutive session on Dec 16 pulled down by weak global cues. Large day end trades resulted in volumes touching a multi weekhigh. Nifty finally closed 0.79% or 145.9 points lower at 18269. Broad market indices fell more even as the advance decline ratio remained low at 0.49:1. ITsector continued to face selling pressure as Nasdaq keeps getting sold off. Realty stocks came under selling pressure as rising rates could dampen demandfor properties.

* Long unwinding was seen in the Nifty Futures where Open Interest fell by 2.91% with Nifty falling by 0.79%.

* Long unwinding was also seen in the Bank Nifty Futures, where Open Interest fell by 6.80% with Bank Nifty falling by 0.64%.

* Nifty Open Interest Put Call ratio fell to 0.81 levels from 0.88 levels. Amongst the Nifty options (22-Dec Expiry), Call writing is seen at 18400-18500 levels,Indicating Nifty is likely to find strong resistance in the vicinity of 18400 - 18500 levels. On the lower side, an immediate support is seen in the vicinity of18200-18300 levels where we have seen Put writing .

* Short covering was seen by FIIS’ in the Index Futures segment where they net bought worth Rs 514 Cr with their Open Interest going down by 5408contracts.

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