Here is what Market Guru Anil Singhvi says about FIIs and DIIs buying in cash market

Market Guru and Zee Business Managing Editor Anil Singhvi is optimistic about the buying of Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) on Wednesday. He expressed positive to neutral view on the buying of FIIs in the cash market.

As per NSE data, FIIs have done a buying of Rs 227 crore and DIIs Rs 381 crore. This meagre buying, Singhvi predicts is very minimal as compare to the strength and stature of FIIs.

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However, the future trading has shown a growth and buying as compared to cash market. FIIs have done buying of Rs 760 crore in Index Futures and around Rs 300 crore in Stock Futures, market guru explains further.

He says, there is a positive side of FIIs buying in all three verticals, Cash Market, Index Futures and Stock Futures.

FIIs, DIIs की खरीदारी से बाजार को कितना सपोर्ट?

अनिल सिंघवी- कैश मार्केट में कम खरीदारी से डाटा न्यूट्रल... FIIs, DIIs की बिकवाली बंद होना पॉजिटिव, लेकिन डाटा अभी भी Big Positive, Over Bullish वाले नहीं...#EditorsTake #FII #DII #StockMarket @AnilSinghvi_ pic.twitter.com/D1wHy25pBM

— Zee Business (@ZeeBusiness) April 8, 2021

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He mentions that whatever FIIs have bought in the Futures trading is a short covering, and there is no fresh buying.  This short covering has been the reason for the decrease of Open Interest in Index Futures and Stock Futures, adds Singhvi.

The best part about is there isn't a selling pattern anywhere, even if it's a small buying, it's good news. However, FIIs continuing its strong buying demand is still uncertain says Singhvi. Rather he believes we need to wait and watch, as at these levels FIIs won't go for selling.

FIIs Index long position was at around 54 per cent, which had fallen and now has again rose to 60 per cent. At this percent, Singhvi believes FIIs to sustain long position in Index. He also affirms that FIIs and DIIs data give relief and support, however, they are not over bullish.