FIIs long to short ratio in the Index Futures stands at an oversold level, suggesting a higher possibility of a short covering, HDFC Securities' Nandish Shah said
Domestic consumption continues to drive robust growth, with strong performance expected across automotive, staples, and discretionary segments, Khandelwal said
The NSE F&O data shows that FIIs open interest in index futures has declined by over 14 per cent from its peak; amid net purchases of contracts worth ₹7,737.41 crore in the last 8 trading sessions.
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FIIs are holding 10 short positions in index futures for every long trade; historically Nifty has witnessed a short-covering rally after the ratio dropped to such lows, shows F&O data.
Foreign investors net sold ₹14,452 crore, and ₹25,831 crore in stock & index futures, respectively in July; however, F&O rollovers hint at likely optimism going ahead.
FIIs have been net sellers in index futures for 11 straight days. Their open positions in Nifty futures jumped by 47% thus far in July series, implying significant short build-up; suggests F&O data.
F&O turnover on the National Stock Exchange drops 21% on the first expiry of Nifty weekly contracts since Jane Street's ban, with index options turnover seeing a significant decline
Nifty Expiry Day: A breakout above the 25,300 level could result in swift short-covering and potentially drive the Nifty towards the 25,450 - 25,500 zone, said Dhupesh Dhameja of SAMCO Securities.
Analyst at HDFC Securities have recommended a 'Bear Spread' Strategy on the Nifty MidCap index as it has broken down from the upward sloping trendline, suggesting a weak outlook
Foreign Institutional Investors long-short ratio in index futures now stands at the lowest point in two months; implying the presence of 5 sell-side bets for every long position, shows NSE F&O data.
NSE F&O data shows that RVNL, Vodafone Idea and Uno Minda are witnessing long build-up of positions; while Aditya Birla Fashion is seeing short build-up.