Index Fut - FII reduced longs and added shorts. Long exposure at 70%

7-Jul-2023 (Friday)

Data:

Index Fut - FII reduced longs and added shorts. Long exposure at 70%

Index Opt CE - FII bought more calls than they sold while Pro sold more calls than they bought

Index Opt PE - FII bought more puts. Pro bought puts and reduced put shorts

Cash - FII continue to buy while DII remain net buyer

VIX - Down 2.6% at 11.53

NF OI down 5% while BNF OI down 4%

Nifty PCR and BN PCR slips into bearish zone and below 0.7 on heavy call writing

Overall - Global weakness triggered profit books after massive surge. Tata Motors gained the most in Nifty on JLR sales to hit fresh all time high. Post the gap down, Nifty rallied first (opportunity for overnight longs to get out) and then the fall resumed