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F&O HIGHLIGHTS

SHORT COVERING IS SEEN IN THE NIFTY & BANKNIFTY FUTURES

ACCUMLATE LONG POSITION ON DECLINE WITH SL OF 17900 LEVELS

* The Nifty recovered sharply from lower levels during the second half of the session, finishing 158.45 points higher at 18053.30.

* Short covering is seen in the Nifty Futures where Open Interest fell by 1% with Nifty rising by 0.82%

* Short covering is seen in the Bank Nifty Futures too, where Open Interest fell by 2.71% with Bank Nifty rising by 0.09%.

* Nifty Open Interest Put Call ratio rose sharply to 1.16 levels from 0.80 levels. Amongst the Nifty options (19-Jan Expiry), PUT writing is seen at 18000- 17900 levels, Indicating Nifty is likely to find strong support in the vicinity of 18000 - 17900 levels. On the higher side, an immediate resistance is seen in the vicinity of 18200-18300 levels where we have seen Call writing .

* Short covering is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 1488 Cr with their Open Interest going down by 7561 contracts.

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