FIIs turn net sellers in cash market - Angel Broking

After a long time FII's have turned net sellers in cash market segment; they were net sellers worth of Rs. 237 cr. On derivatives front good amount of long unwinding was observed by them in both index futures and in index options. While in stock futures not much of activity was observed by them in yesterday's trade.

On options front 5700-5800 call option has seen significant amount of buildup in open interest. While in put option 5600 strike price saw maximum buildup in open interest, followed by decent unwinding in 5800 put option in yesterday's trading session.

HINDALCO has seen significant amount of short buildup since start of this expiry and is now very much heavy in terms of open interest. However the stock in last few trading sessions has being coming down mainly due to long unwinding and has not seen fresh short getting buildup. Hence we feel the counter could see some short covering bounce from current level which could take the stock to around Rs. 96. Go long with the stop loss of Rs. 87.

Source : Equity Bulls

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