F&O Tracker: Bulls eye a breakout
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Nifty 50 and Nifty Bank recovered last week, gaining 2 per cent and 0.7 per cent.
- ✓F&O data showed easing bearish bets as FIIs reduced net short positions by 14 per cent.
- ✓While sentiment improved, Nifty futures must break above 23,300 to confirm a sustained rally toward the 23,800 level.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Line
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Easing bearish bet and key supports strengthen recovery prospects
Nifty 50 (23,053) and Nifty Bank (54,687) recovered last week, gaining 2 per cent and 0.7 per cent, respectively. However, the recovery was relatively stronger in Nifty 50.
The futures and options (F&O) data indicates an improvement in sentiment. Notably, the cumulative futures open interest of both indices declined despite the rally, largely due to the expiry of October contracts.
Foreign Institutional Investors (FIIs) reduced their net short positions in index futures by 14 per cent to 2.41 lakh contracts. Their net short positions in index calls, too, fell 14 per cent to 2.41 lakh contracts. Meanwhile, net long positions in index puts declined 10 per cent to 5.16 lakh contracts.
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