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F&O HIGHLIGHTS

LONG BUILD UP IS SEEN IN THE NIFTY AND BANK NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 16500 LEVELS

* Nifty continued its upward journey for the fifth day in the row on the back of strong global cues, where it gained by 84 points to close at 16605 levels

* Long build up is seen in the Nifty Futures where Open Interest rose by 7% with Nifty rising by 0.50%.

* Long build up is seen in the Bank Nifty Futures too, where Open Interest rose by 3% with Bank Nifty rising by 0.62%.

* Nifty Open Interest Put Call ratio rose to 1.48 level from 1.40 levels. Amongst the Nifty options (28-July Expiry), Call writing is seen at 16800-17000 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 16800 - 17000 levels. On the lower side, an immediate support is seen in the vicinity of 16400-16500 levels where we have seen Put writing .

* Long build up is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 2449 Cr with their Open Interest going up by 6251 contracts.

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