FII Activity & Nifty View
Yesterday, FII’s activity in cash market segment was subdued. While in Index Futures they were net buyers of worth Rs.613 crores with rise in open interest. This suggest FII’s did not participated in last half an hours fall in Nifty, in fact they formed fresh longs in Index Futures in last trading session.
In Index Options front they bought to the tune of Rs.633 crores with rise in open interest. In call options, 8700 strike added good amount build-up, which is long position formed by FIIs. On the other hand in put options, we hardly saw any fresh build-up. Some unwinding was seen in 8200 and 8400 put options. Maximum open interest is seen in 8800 call and 8200 put options.
Seeing the above data, we believe Nifty may remain strong, as FIIs continue to form longs. We suggest to trade with positive bias in Nifty till we see any relevant changes.
