Below is my Interpretation of FII OI data Sheet for 11-Jan-11.
1. FII bought 11927 Contracts in NF worth 271.13 Cores in Index Futures with Open Interest increasing by 13137 contracts.
2. As NF was up by 2 points and OI has increased today, with rise in price so FII have created long in Index futures.Dips which came near 4845-50 were aggressively bought into.
3.After a big rise of 120 points on Tuesday best case for BULLS was to have a consolidation day with positive bias as we have three major events lined up tomorrow Infosys results before market hours and IIP data at 11 AM and also Inflation data and that will decide the further trend of market.
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Rgds,
Bramesh
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