- FIIs’ net long position stands at 24.80%.
- VIX is at 11.59 (-1.19%).
- PCR is at 0.65.
- FIIs bought 1,336 lots in index futures, bought Rs.621 cr in the cash segment, and sold Rs.703.10 cr in stock futures.
- Open interest data:
- FIIs bought 725 lots and covered shorts in 6,239 (net 6,964).
- DIIs booked 1,116 lots in index futures and created shorts in 6,640 lots (net 5,524).
- Retail clients booked profit in 2,323 lots and created shorts in 6,229 lots (net +3,906).
- Proprietary traders booked 11,984 lots and created shorts in 4,410 lots (net -16,394).
Note:
FIIs’ net long position is 24.80%, VIX is 11.59, and PCR is 0.65. The data appears mixed — FIIs, DIIs, and clients have covered both long and short positions, with no major new positions created. However, proprietary traders have added some shorts (4,410 lots).
On deeper study, VIX has reduced despite profit booking, and PCR is now in the oversold zone. Some upside movement may be seen if the market dips by 100–120 points. Immediate support is at 25,715 and resistance at 25,901.
Technically, Nifty reversed from 24,600 to 26,100 within three weeks. Based on Fibonacci retracement, the first support lies at 25,709 and the second at 25,495. The support zone is 25,759–25,546. Generally, in a positive trend, any profit booking takes support within this zone.
A key event being watched is the India–US trade deal. As mentioned earlier, the Indian PM will not attend the ASEAN Summit. Considering the upcoming Bihar elections, any announcement on the trade deal is likely after the elections. Markets may see broad-based consolidation between 25,550 and 26,100 till then.
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