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F&O Highlights

SHORT COVERING WAS SEEN IN THE BANK NIFTY FUTURES

Create longs with the SL of 24500 levels.

* Nifty 50 extended its losing streak for a seventh straight session, closing with a marginal fall of 19 points at 24,634. This marked yet another session characterized by high volatility and pronounced two-way swings.

* Short Build-Up was seen in the Nifty Futures where Open Interest rose by 3.86% with Nifty falling by 0.08%.

* Short Covering was seen in the Bank Nifty Futures where Open Interest fell by 5.98% with Bank Nifty rising by 0.13%.

* Nifty Open Interest Put Call ratio rose to 0.71 levels from 0.63 levels. PCR was near oversold territory.

* One day before the expiry, We have seen higher rollover of 71% in the Nifty to the October series as against last three series average rollover of 67%. Higher rollover is seen in the Bank Nifty futures also where we have seen rollover of 67% as against last thee series average rollover of 59%.

* Amongst the Nifty options (30-Sep Expiry), Call writing is seen at 24700-24800 levels, indicating Nifty is likely to find strong resistance in the vicinity of 24700-24800 levels. On the lower side, an immediate support is placed in the vicinity of 24400-24500 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 528 cr with their Open Interest going up by 15490 contracts.

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