Good Morning
Index is again near 11850 & BNF trying to cross 31200. Now if today market is not able to hold previous low then The "M" pattern will be visible. So ALERT on Index. In between FII added 9k Index short (4th Day ⚠️) & covered 1.2k Longs. In stock futures 5k Shorts & 2k Longs. But in option 26k Index call Long & 18k Put Short is good for limited downside. 17k Put Long & 14k Call Short is negative. Pros 30k Put Long (⚠️) is bearish sign.
So one thing is observed that FII using option bullish setup they are covered Index Long & added short since last 4 days.
So at high or before high book ur Longs. And for safety add Index put also.
Watch OCA continue to get the build-up.