In September, Foreign Institutional Investors (FIIs) were gross buyers of shares worth Rs 66,752 crore, while they sold equities amounting to Rs 47,491 crore translating into a net inflow of Rs 19,261 crore (USD 3.56 billion), according to the data available with the market regulator Sebi.
This was the highest net investment by FIIs in stocks since February, when they had infused Rs 25,212 crore. Besides, FIIs had infused Rs 10,804 crore in August and Rs 10,273 crore in July. As I was told you earlier that market may touch 5705 in sept, It acheaved. Now current technical chart situation is that nifty is extending it wave pattern and it seems that market may touch 5938 or 6038 level in October. October series has started with highest open interest in 5300 put at 5955250 on the down side and 6000 call at 4640200 on the up side. Nifty 5700 put open interest increased by 1263750 shares in open interest and 5700 call decreased by 513450 shares from open interest, indicating that bull are confident to protect 5700 level in near term. Fiis bought Index future wort rs 998.67 crores and net open interest increased by 81%, as nifty was up by 53 points and open interest increased by 81% indicating that fresh long position has been created in index future.
Heavy inflow by Fiis in cash segment and in future segment indicates that nifty is ready to perform more in current situation further. Think simple from here. IF Fiis are smart investors than thev have invested lots in the market in september. So they will not let the market down. As I have told you earlier that a blasting rally you will see in september. Now I think that more blasting rally is still due from here in the market. Long players who have entered at lower level they should keep stoploss at 5630 level and be in long for the target of 5938 and 6038.
Heavy inflow by Fiis in cash segment and in future segment indicates that nifty is ready to perform more in current situation further. Think simple from here. IF Fiis are smart investors than thev have invested lots in the market in september. So they will not let the market down. As I have told you earlier that a blasting rally you will see in september. Now I think that more blasting rally is still due from here in the market. Long players who have entered at lower level they should keep stoploss at 5630 level and be in long for the target of 5938 and 6038.
