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FIIs Shift: Longs Shrink, Shorts Surge!
5 Oct
Summary
- FII longs in index futures rose 6%, shorts jumped 15%.
- Nifty Metal Index nears 10,600 support amid bearish signals.
- Nifty IT Index eyes 29,190 resistance in recovery attempt.
Foreign Institutional Investors (FIIs) have adjusted their index future portfolios, increasing longs by 6% to 29,605 contracts while significantly boosting shorts by 15% to 3,39,779 contracts. This shift occurred after a sharp liquidation on expiry day, particularly among long positions.
The Nifty Metal Index exhibits a bearish tone, having completed a double-top formation and now testing its 200-day moving average. Downside risks remain open, with potential extension towards 10,600 if support at 12,060 fails.
Conversely, the Nifty IT Index shows early signs of a near-term recovery, with improved momentum indicators and derivative positioning supporting a rebound. However, it faces immediate resistance at the 100-day moving average around 29,190.
