BUY BANKNIFTY 29400 PE 370 TARGET 600-860 SL PAID

BUY BANKNIFTY 29400 PE 370 TARGET 600-860 SL PAID

A 50% month-on-month increase in net long positioning for FIIs in index futures has led to an expansion of rollover basis across the board this month. This has accompanied a 14% increase in market-wide open interest in single stock futures. Hence, sentiment going into December series is quite bullish. 

On the other hand, Nov has seen a record inflow of $7.5 bn from FPIs in equities and coincided with 11% return on Nifty and record selling from DIIs worth $5.5 bn. Favourable macro for EM equities driving flows are predicated on a weak dollar, which is among the highest consensus trades and vulnerable to a news-based squeeze as well. In aggregate, while the underlying trend remains strong, there is some risk of a pullback in aggregate, emanating from an ebbing of FPI flows.

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