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F&O HIGHLIGHTS 

SHORT BUILD UP WAS SEEN IN NIFTY & BANK NIFTY FUTURE’S

ACCUMULATE SHORT’S ON RISE WITH SL OF 17400 LEVELS

* Following a gap down opening, the Nifty fell further and closed with significant losses for the third consecutive session on Friday, September 23, 2022.Weak global cues influenced investor sentiment. The US Federal Reserve's hawkish stance on interest rates has heightened fears of a global recession.Traders were also wary ahead of the RBI's policy meeting next week. Selling was prevalent. Interest-rate sensitive industries such as banks, automobiles,and real estate were under pressure. Pharmaceuticals, healthcare, and FMCG outperformed the benchmarks. The S&P BSE Sensex, the barometer index,fell 1020.80 points, or 1.73 %, to 58,098.92. The Nifty 50 index fell 302.45 points (1.72%) to 17,327.35. In three consecutive sessions, both indices havecorrected by more than 2.7%.

* Short build up was seen in the Nifty Futures where Open Interest rose by 2.63% with Nifty falling by 1.72%.

* Short build up was also seen in the Bank Nifty Futures, where Open Interest rose by 10.29% with Bank Nifty falling by 2.67%.

* Nifty Open Interest Put Call ratio fell to 0.76 level from 1.04 levels. Amongst the Nifty options (29-Sep Expiry), Call writing is seen at 17400-17500 levels,Indicating Nifty is likely to find strong resistance in the vicinity of 17400 - 17500 levels. On the lower side, an immediate support is seen in the vicinity of17000-17100 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 3373 Cr with their Open Interest going up by 20006 contracts.

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