Below is my Interpretation of FII OI data Sheet for 5-Jan-11.
1. FII bought 12,994 Contracts in NF worth 313.55 Cores in Index Futures with Open Interest increasing by 23116 contracts.
2. As NF was down by 5 points and OI has increased today, As price was down marginally and FII were buyers as Price(small down tick of 5 points cannot be considered as selling) and OI both have changed in positive so some long build up. Nifty made 5 attempt today 4772,4775,4776,4779 and 4780 and all were sold off. So means selling pressure is coming to higher end.
3. Today trade in NF was quiet irritating and frustrating....Read the Full Story
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Rgds,
Bramesh
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http://www.brameshtechanalysis.com/
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