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F&O HIGHLIGHTS

PROFIT BOOKING WAS SEEN IN THE NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 16400 LEVELS

* The Nifty ended with small losses on Wednesday, declining for the second trading session. A sharp rise in crude oil prices spooked investors. The jump in oil prices threatens to upend India's fiscal math and economic projections. After hitting a high of 16,649.20 in early trade, the Nifty slipped as the session progressed and settled below 16,550 mark. Banks shares advanced while IT and healthcare shares declined.

* Minor Long unwinding was seen in the Nifty Futures where Open Interest fell by 0.27% with Nifty falling by 0.37%.

* On the other hand, Short Covering was seen in the Bank Nifty Futures where Open Interest fell by 5.19% with Bank Nifty rising by 0.38%.

* Nifty Open Interest Put Call ratio fell 0.82 level from 1.10 levels. Amongst the Nifty options (02-June Expiry), Call writing is seen at 16700-16800 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 16700 - 16800 levels. On the lower side, an immediate support is seen in the vicinity of 16400-16500 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 1276 Cr with their Open Interest going up by 889 contracts.

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