market segment

 Friday, FIIs were net buyer in both cash market segment and in Index Futures. They bought equities to the tune of Rs. 643 crores and Index Futures of Rs. 470 with good amount of rise in OI, suggesting mix of long and short formation in last trading session.

 In Index Options front, they bought significantly of Rs. 2858 crores with some fall in OI. In call options, we hardly witness any fresh OI build-up, meaningful unwinding was seen in the range of 7800-8300 call options. While in put options, 7900 & 8000 strike added decent OI, followed by unwinding in out the money put strikes. Maximum OI is seen in 8200 call and 7500 put options.

 Surprisingly, we saw buying figure in cash and Index Futures in last trading session. In Index futures mixed positions were formed, while in options, we saw FIIs covering their shorts formed in call options. Fresh put buying was also visible. We suggest avoid forming longs in Nifty till we see continuation of meaningful buying.

market segment

 Yesterday FIIs were net sellers in cash market segment to the tune of Rs. 910 crores. They bought Index Futures of Rs. 257 crores with rise in OI, suggesting some fresh long formation in last trading session.

 In Index Options front, they were net sellers of Rs. 1721 crores with marginal change in OI. In call options we saw build-up in 7800 and 8100 strikes, followed by unwinding in 8500 call options. While in put options, we hardly saw any strike adding reasonable OI, some unwinding was visible in 8000 put option. Maximum OI is seen in 8000 call and 7500 put options.

 We continue to see meaningful selling in equities by bigger hands. Even though Nifty gave a decent bounce, we are hardly witnessing any substantial buying interest in Nifty. We still believe it’s a sell on rise market; 7900-7950 is an immediate resistance for Nifty.