FIIs turn sellers in Nifty Futures - Aditya Birla Money

NIFTY PCR OI rebounded at 1, with 6000 and 6100 CE witnessing unwinding of 0.4 and 0.5 lakh shares; total OI 58 and 74 lakh shares. On other hand 5900 PE saw addition of 3.65 lakh shares with total OI at 72 lakh shares (PCR-OI of 6000 dropped below 1) implying immediate short term NIFTY may find stiff resistance at 5990-6040.

INDIA VIX corrected 2.5% at 15.255 however is still holding above 15 levels, we have to watch this level carefully if it remains above 14.5-15.5 levels, Bears will have upper hand and NIFTY may face stiff resistance at 5980-6030.

FIIs turned sellers in NIFTY Fut. Rs 236 Cr. (only one day buying in Index Fut.; last week sold 2350 Cr., some fresh shorts); after 11 sessions turned sellers in INDEX Options 28 Cr ( 6800 Cr. bought in last 10 sessions, hedging stalled), stock futures continue to be buyers 171 Cr; continue to be buyers in cash to the tune of 612 Cr. volumes and participation increased in cash front, on F & O front hedging stalls, expecting VIX to correct, cash liquidity still positive implying NIFTY may rebound till 5990-6030 levels.

Over all CE writers continue to form aggressive positions, Index will find resistance 5980-6030 levels.

Source : Equity Bulls

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