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F&O HIGHLIGHTS

LONG UNWINDING IS SEEN IN THE NIFTY AND BANK NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 16400 LEVELS

* Nifty continued its downward journey for the second day in the row, where it fell by 147 points to close at 16484 levels

* Long unwinding is seen in the Nifty Futures where Open Interest fell by 6% with Nifty falling by 0.88%.

* Long unwinding is seen in the Bank Nifty Futures too, where Open Interest fell by 9% with Bank Nifty falling by 0.87%.

* Nifty Open Interest Put Call ratio fell sharply to 0.99 level from 1.18 levels. Amongst the Nifty options (28-July 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 .

* Long unwinding is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 924 Cr with their Open Interest going down by 8839 contracts.

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