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F&O Highlights

SHORT COVERING WAS SEEN IN NIFTY FUTURES

Create shorts on rise with the SL of 25400 levels.

* Nifty extended its rally for the fourth straight session, rising to an intraday high of 25,220 before late profit booking after 2:15 PM erased most gains. It closed up 30 points at 25,108.

* Short Covering was seen in the Nifty Futures where Open Interest fell by 1.18% with Nifty rising by 0.12%.

* Short Covering was seen in the Bank Nifty Futures where Open Interest fell by 4.84% with Bank Nifty rising by 0.24%.

* Nifty Open Interest Put Call ratio fell to 1.03 levels from 1.08 levels.

* Amongst the Nifty options (14-Oct Expiry), Call writing is seen at 25300-25400 levels, indicating Nifty is likely to find strong resistance in the vicinity of 25300-25400 levels. On the lower side, an immediate support is placed in the vicinity of 25200-25100 levels where we have seen Put writing.

* Short covering was seen by FII's’ in the Index Futures segment where they net bought worth 1,549 cr with their Open Interest going down by 8056 contracts.

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