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F&O HIGHLIGHTS

SHORT COVERING IS SEEN IN THE NIFTY FUTURES

ACCUMULATE LONGS ON DECLINE WITH SL OF 17880 LEVELS

* Nifty rose for the third consecutive session on Feb 16 though closing off day's high. At close, Nifty was up 0.11% or 20 points at 18035.85.

* Short covering is seen in the Nifty Futures where Open Interest fell by 1% with Nifty rising by 0.11%.

* On the other hand, Short build up is seen in the Bank Nifty Futures, where Open Interest rose by 6% with Bank Nifty falling by 0.24%.

* Nifty Open Interest Put Call ratio fell to 1.03 levels from 1.39 levels. Amongst the Nifty options (23-Feb Expiry), Put writing is seen at 17800-18000 levels, Indicating Nifty is likely to find strong support in the vicinity of 17800 - 17900 levels. On the higher side, an immediate resistance is seen in the vicinity of 18100-18200 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 351 Cr with their Open Interest going up by 5807 contracts.

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