F&O data hint at overbought market, blue chips lend support

The level (PCR by OI) of 1.87 on July 21 was the highest since April 30 this year, when it touched 1.89. When the PCR hit 1.89 levels this year, the Nifty slipped to 9,050 level from 9,900 level in one month, said analysts.

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