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F&O HIGHLIGHTS

SHORT COVERING IS SEEN IN THE NIFTY FUTURES

ACCUMULATE LONGS WITH SL OF 16050 LEVELS

* Nifty broke the four day losing streak on Friday, where it gained 111 points to close at 16049 levels

* Short covering is seen in the Nifty Futures where Open Interest fell by 1% with Nifty rising by 0.69%.

* On the other hand, long build up is seen in the Bank Nifty Futures, where Open Interest rose by 2% with Bank Nifty rising by 0.10%.

* Nifty Open Interest Put Call ratio fell to 1.21 level from 0.90 levels. Amongst the Nifty options (21-July Expiry), Call writing is seen at 16300-16400 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 16300 - 16400 levels. On the lower side, an immediate support is seen in the vicinity of 15900-16000 levels where we have seen Put writing .

* Short build up is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 457 Cr with their Open Interest going up by 5693 contracts.

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