Another quite sessions today as the market digests it’s recent gains and contemplates it’s next move
Activity was muted today in index futures and calls in terms of new positions being opened/ closed.
However put contracts were actively traded both on the long side as well as the short side with 10980 long put contracts added and 15452 short puts added.
The stock futures continued to be sold for the third straight day and even long stock futures were closed.
We had tracked DII cash buying during the fall at 5950 levels and highlighted the fact that they were net buyers. It’s important to note now that they have been selling between 800 CR to 1200 CR in the past three days in this consolidation.
The BNF which is the leader of the rally has shown about 2000 contracts reduced each session in the past two days on profit booking