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F&O Highlights

LONG BUILD UP WAS SEEN IN NIFTY FUTURES

Create longs on decline with the SL 25850 of levels.

* The Nifty closed at 25891, up 22 points, marking a sixth consecutive gain. Initial trade deal optimism pushed it to 26104, but a sharp 200+ point reversal near the close offset most gains. Volumes were 16% higher.

* Long Build-Up was seen in the Nifty Futures where Open Interest rose by 0.63% with Nifty rising by 0.10%.

* Long Unwinding was seen in the Bank Nifty Futures where Open Interest fell by 1.11% with Bank Nifty falling by 0.04%.

* Nifty Open Interest Put Call ratio fell to 0.95 levels from 1.08 levels.

* Amongst the Nifty options (28-Oct Expiry), Call writing is seen at 26100-26200 levels, indicating Nifty is likely to find strong resistance in the vicinity of 26100-26200 levels. On the lower side, an immediate support is placed in the vicinity of 25800-25700 levels where we have seen Put writing.

* Short covering was seen by FII's’ in the Index Futures segment where they net bought worth 4,652 cr with their Open Interest going down by 3264 contracts.

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