FII sold 3.1 K contract of Index Future worth 217 cores, Net OI has decreased by 2.4 K contract 321 Long contract were added by FII and 2.8 K Shorts were covered by FII. Net FII Long Short ratio at 3.9 So FII used rise to exit longs and exit shorts.FII have invested 10.7 K cores funds towards Index Option side in last 2 days. This is highest in last 55 days.Very high Open Interest in options for FII, and they would want some time decay to happen in the option premiums.
As discussed in Last AnalysisAnother gap up open but unable to sustain above cluster of gann resistance 14250-14256 ,Gann Angle resistance As we have weekly expiry tommrow, bulls need to move above 14201 for a move back to 14250/14323. Nifty again failed to close above the gann resistance of 14250-14256 high made was 14254 and tunred back. Tommrow is an important date as per gann analysis as on 08 Jan 2008 we made the Top of 6357 so we are completing 13 years from that top.Bears below 14112 can see a quick fall towards 14060/13968/13924. Bulls need to move above 14192 for a move back to 14256/14305.