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LONG BUILD UP WAS SEEN IN THE BANK NIFTY FUTURES

Create Longs with the SL of 24700 Levels.

* Nifty remained range-bound between in 100 points and finally closed down by 0.33% at 24750 level.

* Short Build-Up was seen in the Nifty Futures where Open Interest rose by 4.61% with Nifty falling by 0.33%.

* Long Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 5.03% with Bank Nifty rising by 0.37%.

* Nifty Open Interest Put Call ratio fell to 0.77 levels from 0.86 levels.

* Amongst the Nifty options (05-Jun Expiry), Call writing is seen at 24900-25000 levels, indicating Nifty is likely to find strong resistance in the vicinity of 24900-25000 levels. On the lower side, an immediate support is placed in the vicinity of 24700-24800 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 1,081 cr with their Open Interest going up by 7295 contracts.

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