FII F&O Data analysis for 03 Dec trade in Nifty future

Below is my Interpretation of FII OI data Sheet for 2-Jan-11.

1. FII sold   18,284 Contracts in NF worth 419.15  Cores in Index Futures with Open Interest increasing  by 5958 contracts.

2. As NF  was  up  by 16  points  with Open Interest increase by  FII . Rise  in OI with Rise  in price means  shorts were squared off as we know FII are carrying shorts or they have added more short in today's small upmove. As FII Volumes are quiet low so its difficult to intrepert at this juncture were it shorts or Longs addition

3. Today can be termed as Day of reversal why because of Nifty bouncing from 4588.

78.6% retracement from 4531-4819 comes at...

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Rgds,
Bramesh
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http://www.brameshtechanalysis.com/

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