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LONG BUILD UP WAS SEEN IN THE BANK NIFTY FUTURES

Create longs with the SL of 26350 levels

* Nifty extended its winning streak for the third consecutive session, rallying 182 points to settle at a fresh record high of 26,328. After a mildly positive start, index steadily gained momentum through the day, hitting a new peak of 26,340 before closing near the day’s high. .

* Short Covering was seen in the Nifty Futures where Open Interest fell by 1.36% with Nifty rising by 0.70%.

* Long Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 5.70% with Bank Nifty rising by 0.74%.

* Nifty Open Interest Put Call ratio rose to 1.46 levels from 1.13 levels.

* Amongst the Nifty options (06-Jan Expiry), Call writing is seen at 26500-26600 levels, indicating Nifty is likely to find strong resistance in the vicinity of 26500-26600 levels. On the lower side, an immediate support is placed in the vicinity of 26300-26400 levels where we have seen Put writing.

* Short covering was seen by FII's’ in the Index Futures segment where they net bought worth 2,359 cr with their Open Interest going down by 8604 contracts

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