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F&O HIGHLIGHTS

PROFIT BOOKING IS SEEN IN THE NIFTY & BANK NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 16500 LEVELS

* Nifty broke the six day losing streak on the back of profit booking, mainly in in Auto and Oil/gas Stocks, where it ended the day with the losses of 88 points to close at 16631 levels

* Profit booking is seen in the Nifty Futures where Open Interest fell by 3% with Nifty falling by 0.53%.

* Profit booking is seen in the Bank Nifty Futures too, where Open Interest fell by 12% with Bank Nifty falling by 0.03%.

* Nifty Open Interest Put Call ratio fell sharply to 1.18 level from 1.42 levels. Amongst the Nifty options (28-July 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 16500-16600 levels where we have seen Put writing .

* Short build up is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 987 Cr with their Open Interest going up by 3027 contracts.

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