NewsPatrolling.com : “Post last three day’s strong up move, the benchmark index started off today’s session slightly lower amid mixed global cues and remained range bound for the major part of the day to conclude the session on a flat note.
In index options front, we saw decent OI addition in 11100-11400 call options (except for 11200 wherein we saw some unwinding). On the other side, 11000-11100 puts continued adding fresh positions; followed by unwinding in OTM strikes 10200-10950. Maximum concentration of OI for January series is placed at 11200 call and 10500 put option.
As far as FIIs activities are concerned, we witnessed mixed position in index futures throughout January series. However, majority of the positions formed were on the short side, resulting their Index Futures ‘Long Short Ratio’ declining below 50% after quite some time. At the same time, they have been forming positive bets in other F&O space by adding good amount of long positions in stock futures and index call options along with writing in index put options. After consistent selling for last five series, stronger hands have been pouring liquidity through cash market segment in current series with a net buying of Rs. 7805 crores. Considering above data points, we would advise traders avoiding any bearish bets unless we see meaningful change in F&O data.”
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