My Notes:
- Today FII bought 11K contracts and their OI went up by 25K contracts. FII OI is around 7L contracts - it is huge - and we have a big move coming.
- PCR has decreased to 1.04. Though PCR reduction with a rally is concerning, this is mainly because of the unwinding of 4400PE. So, nothing to do be worried for bulls so far.
- The only point of concern for bulls is Desi MO reaching 89. It indicates an overly bullish atmosphere. Though it can go on for some time - let us wait and see what sort of correction comes in. Be prepared for unexpected corrections and tighten your stop losses on the long side.
- You can find the complete datasheet here.
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5 comments:
Hi,
I have few doubts Please answer them as and when you are comfortable
1. FII have 56K contract on long side in this series Can we draw a conclusion that they are still BULLISH.
2. In spite of Huge FII selling in Futures market rallied today but on low volumes can we conclude smart money have already shorted and we are in for surprise on downside?
@Bramesh,
Thanks for the comment.
a. Where did this 56K contracts on the long side come in? I am unable to make it out. Their net buy this series is 49K contracts.
b. I am with the same opinion. I feel smart money is short - because on all days when FII selling happened, their OI has increased. However, it is more prudent to stay long as long as 5000 is protected. Because most of the rollover happened in the zone of 4850-4900, and if they are shorts, longs will try their best not to return to that range.
@Kris
Bulls wanna take it to 5250-5350 and bears wanna take it below 5k. They will find a middle ground somewhere in between :) 5110 holds the key.
Regards
Vinod
Thanks Kris.
Auction time. Roadmap posted.
Thanks Kris for clearing the Doubt
Actually I am calculating from 26 August and as per ur data Sheet ur calculating from 25 August so the Discrepancy of 6K contract is coming.
If FII are short market will fall and One more thing i observed is Volumes are very less in the current uptrend
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