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F&O HIGHLIGHTS

PCR IS HEADING TOWARDS OVERSOLD LEVEL

SELL IN NIFTY BELOW 15700 BY KEEPING SL AT 15800 LEVEL​​​​​​​

* The Nifty fell on Monday, mirroring bleak global trends. IT, metals, and banks were among the most heavily sold. Investors sold riskier assets after a steeper-than-expected rise in US consumer prices in May fuelled expectations of the Federal Reserve raising interest rates more aggressively. On Friday, the US government reported that inflation in the 12 months ending in May hit 8.6 %, the highest rate since December 1981.

* Long unwinding was seen in the Nifty Futures where Open Interest fell by 2.91% with Nifty falling by 2.64%.

* On the other hand, Short build up was seen in the Bank Nifty Futures where Open Interest rose by 9.03% with Bank Nifty falling by 3.13%.

* Nifty Open Interest Put Call ratio fell 0.70 level from 0.88 levels. Amongst the Nifty options (16-June Expiry), Call writing is seen at 15800 - 15900 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 15800 - 15900 levels. On the lower side, an immediate support is seen in the vicinity of 15500 - 15600 levels where we have seen Put writing .

* Long unwinding is seen by FIIS’ in the Index Futures segment where they net sold worth Rs 1799 Cr with their Open Interest going down by 8833 contracts

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