Nifty Futures Indicate Short Covering; FII Long Position Rise To 32%
Nifty April Futures is trading at a premium of 5.55 points. The Nifty current Open Interest value is Rs 28,640.6 crore.
The Nifty Index Futures settled at 24,131.1 and was up 1.17% with an open interest reduction of 7,624, indicating short covering.
The benchmark NSE Nifty 50 has moved 2.26% in the April contract since last expiry. Open Interest position has gone up 18.38% during the same period in Futures and across Futures and Options at 38.26%.
The Nifty April Futures is trading at a premium of 5.55 points. The Nifty current Open Interest value is Rs 28,640.6 crore.
The Nifty Options saw maximum activity at 24,000 Put and 24,500 Call. The Nifty Option open interest distribution suggests a trading range between 24,000 and 24,500. The Nifty Open Interest Put Call Ratio is at 0.88.
The Nifty Bank Index Futures settled at 55,280 and was up 1.99% with an Open Interest addition of 1,985, indicating fresh long build up.
The Nifty Bank Futures has risen by 7.23% since last expiry. Open Interest up by 6.12% in Futures and across Futures and Options at 192.87% since last expiry.
Nifty Bank April Futures is trading at a discount of 24.5 points. The current Open Interest value is Rs 11,838.32 crore.
FII Activity
Foreign institutional investors net added a long position worth Rs 1,283.96 crore in Nifty Futures, taking the total open interest of the FIIs in Nifty Futures to Rs 21,151.9 crore compared to the previous day's open interest of Rs 21,728.68 crore suggesting FPIs covered short positions and added net long positions.
FIIs net added a short position worth Rs 286.21 crore in Nifty Bank Futures, taking total open interest of FIIs in Nifty Bank Futures to Rs 10,004.13 crore compared to the previous day's open interest, suggesting the addition of short positions.
The FII Index long position has risen to 0.32 from 0.3 at the time of the last expiry. The long-short ratio has climbed to 0.46 and the FII open interest put-call ratio stood at 1 compared to 1.03 on the previous day.
The FIIs net buy was worth Rs 1,970 crore in the cash market, as per exchange provisional data.
