The Market started off on an open drive today and held near the highs for almost the entire session except the closing 45 minutes
The late afternoon fall below vwap trapped a lot of long players most of who covered immediately but there are some still holding into the close as today’s EOD data shows.
The position analysis at the close shows FII’s on the wrong foot in today’s auction.
The market shows no mercy however deep your pocket maybe and today’s move is a classic example.
It’s important to see how these positions will react at the open tomorrow and hence a sharp move is in order near the open.
For the record the business is still long and holding. 161907 long contracts are in place this series at a vwap of 6437 F in NF and 11590 F in BNF. Shorts are just 32230 contracts this series in comparison.