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.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

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.

See Zee Business Live TV Streaming Below:

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.

>

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.