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F&O HIGHLIGHTS

PCR HEADING TOWARDS OVERSOLD REGION

ACCUMULATE SHORT IN NIFTY WITH SL OF 16400 LEVELS​​​​​​​

* The Nifty ended a volatile session with modest losses on Wednesday, declining for the fourth day in a row. The Nifty ended a tad above the 16,350 level after sliding as much as 16,293.35 in morning trade. Market turned volatile after the RBI hiked the key repo rate by 50 basis points to 4.90%. Shares of realty, media and PSU banks advanced while FMCG, oil & gas and consumer durables stocks declined. Nifty finally closed down by 0.37% to 16356.

* Minor short build up was seen in the Nifty Futures where Open Interest rose by 0.20% with Nifty falling by 0.37%.

* Minor short up also seen in the Bank Nifty Futures where Open Interest rose by 0.09% with Bank Nifty falling by 0.14%.

* Nifty Open Interest Put Call ratio fell 0.72 level from 0.78 levels. Amongst the Nifty options (09-June Expiry), Call writing is seen at 16400-16500 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 16400 - 16500 levels. On the lower side, an immediate support is seen in the vicinity of 16200-16300 levels where we have seen Put writing .

* Short Build up was also seen by FIIS’ in the Index Futures segment where they net sold worth Rs 735 Cr with their Open Interest going up by 1882 contracts.

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