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SHORT COVERING WAS SEEN IN NIFTY & BANK NIFTY FUTURES

Create Longs with the SL Of 22850 Levels.

* Nifty rose for the second consecutive day, gaining 325 points or 1.45% to close at 22,834, bolstered by strong global cues and a robust rally in financial, auto, and banking stocks.

* Short Covering was seen in the Nifty Futures where Open Interest fell by 0.73% with Nifty rising by 1.45%.

* Short Covering was seen in the Bank Nifty Futures where Open Interest fell by 0.18% with Bank Nifty rising by 1.99%.

* Nifty Open Interest Put Call ratio rose to 1.29 levels from 1.05 levels.

* Amongst the Nifty options (20-Mar Expiry), Call writing is seen at 23000-23100 levels, indicating Nifty is likely to find strong resistance in the vicinity of 23000-23100 levels. On the lower side, an immediate support is placed in the vicinity of 22900-22800 levels where we have seen Put writing.

* Short covering was seen by FII's’ in the Index Futures segment where they net bought worth 4,761 cr with their Open Interest going down by 16727 contracts.

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SEBI Registration number is INZ00017133