1️⃣ FII Activity & Derivatives Positioning
FIIs have bought ~₹600+ crore in the cash market, indicating mild buying support.
In the F&O segment, they have:
- Reduced net index futures shorts
- Reduced net index put long positions
- Built fresh net index call shorts
Key Indicators:
- PCR: 1.08 (neutral to slightly positive)
- FII Long–Short Ratio: ~26 (declined vs 13/04/2026 despite rally)
👉 Insight: Mixed positioning — some short covering, but call writing suggests capped upside.
2️⃣ Global Cues 🌍
Global markets are recovering, but the positive impact of cooling US–Iran tensions is fading.
- Focus shifting towards earnings season
- Brent crude ~ $94 → crucial level
- Sustained fall below $94 needed for strong rally continuation
👉 Conclusion: Sentiment is cautiously positive but conditional on earnings + crude movement.
3️⃣ Market Sentiment
Market has recovered well from recent lows, indicating base formation.
Key drivers now:
- Earnings momentum
- Crude price direction
- FII positioning
👉 Core Message: Market transitioning from recovery phase to earnings-driven trend.
4️⃣ Technical View & Key Levels 📉
Short-Term (Hourly):
- Market looks strong
Higher Timeframe (Daily):
- Nifty & Bank Nifty both near EMA50 (key resistance zone)
- Today’s Sensex expiry closing is crucial for next move
Key Levels to Watch:
Nifty
- Support: 24,000
- Resistance: 24,450
Bank Nifty
- Support: 55,900
- Resistance: 57,100
5️⃣ Our Stance 🎯
👉 Strategy shifting towards Buy on Dip (Selective)
✔ Focus on:
- Quality stocks with strong earnings
- Stocks showing relative strength
❌ Avoid:
- Over-leveraging near resistance
- Blind breakout trades without confirmation
👉 Final Take:
Market has likely formed a base, but confirmation above resistance is key — trade with discipline and SL.