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F&O HIGHLIGHTS

LONG BUILD UP WAS SEEN BY NIFTY & BANK NIFTY FUTURES

ACCUMULATE LONGS ON MINOR DECLINE WITH SL OF 17700 LEVELS.???????

* After opening lower on the back of weak global cues, Nifty recovered nearly 150 points from the intraday low to close near the day highs. At close, Niftywas up by 0.24% or 43 points at 17754.

* Long build up was seen in the Nifty Futures where Open Interest rose by 4.24% with Nifty rising by 0.24%.

* Long build was also seen in the Bank Nifty Futures, where Open Interest rose by 1.88% with Bank Nifty rising by 0.55%.

* Nifty Open Interest Put Call ratio rose to 1.26 levels from 1.12 levels. Amongst the Nifty options (09-Mar Expiry), Put writing is seen at 17600-17700 levels,Indicating Nifty is likely to find strong support in the vicinity of 17600 - 17700 levels. On the higher side, an immediate resistance is seen in the vicinity of17800-17900 levels where we have seen Call writing .

* Short build up is seen by FIIs’ in the Index Futures segment where they net sold worth Rs 577 Cr with their Open Interest going up by 5626 contracts.

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