Good Morning
Expiry was on good note. Index was hit 11900 & we warn resistance in Intra-day. We gain in BNF, Reliance.
Smart Money played smartly keeping Index in discounts they addded Index Longs. This time can we take previous high i.e. 12430 ?
Data is strong. Will trade after policy
FII was a net buyers in CM i.e. 978 Cr. But in Derivatives again a diversion but this time bullish diversion. FII added 22k Index Long (45% Long) and 5.7k shorts (21%), In stock futures 3.7k Longs & 7.2k Shorts, Options data Ignored due to Expiry, But note only 15k Put Short Covered it means previous put writting was in this Expiry.
Pros added 4k Index Long & 62 Shorts. Check the Stock Options Data added by FII & Pros.
So Data is suggested that Both Participants is bullish on Index & they will take Index above previous high. But Keep OTM Put for Hedging ur Longs. IT may some sell off and that will be buying opportunity in Index & Stocks.