1️⃣ FII Activity & Positioning
FIIs have sold ₹880 crore worth of equities in the cash segment, reflecting selling pressure.
In the F&O segment, they have:
Increased net index short positions
Significantly increased net index put positions
Created fresh shorts in net index calls
Overall derivatives positioning suggests a bearish bias.
2️⃣ Global Market Cues
Global sentiment remains neutral to slightly negative.
No major panic globally
No sharp risk-off sentiment like seen in our market yesterday
However, weak global undertones may limit upside momentum.
3️⃣ Technical & Data View
On charts, the market structure appears weak.
Recent sharp downside move was likely amplified by Sensex expiry volatility
Broader sentiment remains fragile
From a data perspective:
PCR at 0.70 – approaching oversold territory
FII Index Long/Short Ratio at 30 (higher than yesterday)
This suggests that while the trend is weak, there is potential for a short-term relief bounce from lower levels.
4️⃣ Key Levels to Watch
Nifty
Support: 25,250
Resistance: 25,650
Bank Nifty
Support: 60,400
Resistance: 61,100 – 61,400
5️⃣ Our Stance
Maintain a cautious approach.
Avoid aggressive long positions
Do not chase breakdowns
Wait for market stabilization and confirmation
For now, adopt a wait-and-watch strategy until volatility settles.