F&O – Open Interest Report for 30th June 2016

Tracking the global cues, our markets opened with a gap and closed above Pre BREXIT levels. Bulls that were long before the BREXIT event were forced to exit on 24th June and Bears that shorted on 24th June were squeezed out. Literally we are back to square one!

Though Nifty crossed 8300 intra-day, it closed at 8287.75. We mentioned 8300 would act as a strong resistance in our yesterday’s report.  The various tops at 8280-8300 are still not completely conquered. A decisive move above 8330 will signal  higher levels of 8600.

In the cash segment Foreign institutional investors (FIIs) bought 1,107 crores ( this might include shares allotted in Mahanagar Gas IPO) and Domestic institutional investors (DIIs) sold 190 crores.

FNO segment
FIIs bot a total of 59,179 contracts of Index Futures of which 55,304 contracts were short covering.