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F&O HIGHLIGHTS

SHORT COVERING IS SEEN IN THE NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 16900 LEVELS

* Nifty ended on a strong note on the back of strong global cues , where it gained by 171.35 points to close at 17185 levels

* Short covering is seen in the Nifty Futures where Open Interest fell by 7.20% with Nifty rising by 1.01%.

* On the other hand, Long build up is seen in the Bank Nifty Futures, where Open Interest rose by 0.8% with Bank Nifty rising by 1.76%.

* Nifty Open Interest Put Call fell rose to 0.91 level from 1.06 levels. Amongst the Nifty options (20-Oct Expiry), Call writing is seen at 17200-17300 levels, Indicating Nifty is likely to find strong resistance in the vicinity of 17200 - 17300 levels. On the lower side, an immediate support is seen in the vicinity of 17000-16900 levels where we have seen Put writing .

* Short covering is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 2022 Cr with their Open Interest going down by 14014 contracts

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