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SHORT BULLD UP WAS SEEN IN NIFTY FUTURES

Create Shorts with the SL of 25000 Levels.

* The Nifty continued its downward trajectory for the second consecutive day, defying strong global cues. The index ended the day with a loss of 73 points (0.30%), closing at 24,752.

* Short Build-Up was seen in the Nifty Futures where Open Interest rose by 3.14% with Nifty falling by 0.30%.

* Long Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 5.85% with Bank Nifty rising by 0.12%.

* Nifty Open Interest Put Call ratio fell to 0.76 levels from 0.82 levels.

* Amongst the Nifty options (29-May Expiry), Call writing is seen at 24900-25000 levels, indicating Nifty is likely to find strong resistance in the vicinity of 24900-25000 levels. On the lower side, an immediate support is placed in the vicinity of 24600-24700 levels where we have seen Put writing.

* Short build-up was seen by FII's in the Index Futures segment where they net sold worth 2,100 cr with their Open Interest going up by 5600 contracts.

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