Nifty Opened flat to negative and went down first to make a low at 7940 and was inching up slowly but steadily. Today's intra Price action was completely Neutral to Positive and EOD closed near day's high, suggesting a small pause in downtrend unless again on Monday today's low is taken out. Weekly close was below to its Low ema but almost 100 points below to it, so a bounce is expected to make some "catch up".
Broader market was weak with 867 declines to 593 advances for the day. Today FII are net sellers in cash market and DII are net buyers
Vix Range - 8246---7720
Option Open Interest -- 7800--8200 (immediate range)
FII -- Have added longs and shorts today in index futures, with net longs Decreased by 10,546. Longs to shorts is neck to neck now..
Clients -- Have covered their shorts and longs today, with net longs up by 6671 contracts.
Pro -- Added both longs and shorts today, with net shorts up by 7970 contracts.
DII -- Covered their shorts and added longs, with net shorts down by 11,845 contracts.
FII covering another 11K contracts or good addition of shorts now on will change the proposition again to Net shorts. Client have added huge position on call longs from yesterday, this is the factor to be watched for. while FII have loaded their guns with long Puts from the start of the series. May be they are using as hedge, they seem not to be covering at all.
Net to Net, looks like there is a bounce next week, but the sustainability of the same is the Serious question to be asked.
Happy Weekend
Broader market was weak with 867 declines to 593 advances for the day. Today FII are net sellers in cash market and DII are net buyers
Vix Range - 8246---7720
Option Open Interest -- 7800--8200 (immediate range)
FII -- Have added longs and shorts today in index futures, with net longs Decreased by 10,546. Longs to shorts is neck to neck now..
Clients -- Have covered their shorts and longs today, with net longs up by 6671 contracts.
Pro -- Added both longs and shorts today, with net shorts up by 7970 contracts.
DII -- Covered their shorts and added longs, with net shorts down by 11,845 contracts.
FII covering another 11K contracts or good addition of shorts now on will change the proposition again to Net shorts. Client have added huge position on call longs from yesterday, this is the factor to be watched for. while FII have loaded their guns with long Puts from the start of the series. May be they are using as hedge, they seem not to be covering at all.
Net to Net, looks like there is a bounce next week, but the sustainability of the same is the Serious question to be asked.
Happy Weekend
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