FIIs turning bearish?

Nifty ended at 52-week closing high led by banks.

It opened at 8525 on a slightly negative note but immediately recovered and rose continuously to close near the day’s high at 8635.65. Foreign institutional investors (FIIs) sold index futures worth Rs 288 crores for the first time in 10 days. Are they turning bearish?

In the cash segment FIIs were net buyers to the tune of Rs 891 crores and Domestic institutional investors (DIIs) were net sellers to the tune of Rs 68 crores.

In FNO segment, FIIs sold 4,160 contracts of Index Futures and bot 8,700 contracts of Index calls.
They also sold 1,345 contracts of Index puts.

DIIs  are net short by 16,084 in Index Futures contracts.

Nifty Put Call Ratio (PCR) data shows support at 8500 and Resistance at 8700.