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* The Nifty fell for a second consecutive session, dropping 263 points (1.14%) to close at 22,829, with higher trading volumes.

* Short Build-Up was seen in the Nifty Futures where Open Interest rose by 2.54% with Nifty falling by 1.14%.

* Short Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 3.80% with Bank Nifty falling by 0.63%.

* Nifty Open Interest Put Call ratio fell to 0.75 levels from 0.84 levels. PCR was near oversold territory.

* Amongst the Nifty options (30-Jan 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 22800-22900 levels where we have seen Put writing.

* Long unwinding was seen by FII's in the Index Futures segment where they net sold worth 34 cr with their Open Interest going down by 23434 contracts

Nifty

Bank Nifty

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