FIIs hold a heavy net-short futures position (-68%) but have reduced shorts for 2 sessions running. This is the early shape of a short-covering rally — sellers stepping back, not yet committed buyers.

What to watch:A clean break of yesterday's high on rising volume usually accelerates covering. If covering stalls and shorts reload, downside resumes — watch the FII futures number on tonight's close.

Rotation: into IT, out of Banks

IT +1.4% while Banks -0.6% — a 2.0pp intra-sector spread is wide enough to signal active rotation rather than broad-market drift.

What to watch:If the spread persists 2-3 sessions, a pair-trade (long IT, hedged against Banks) becomes attractive. Single-sector bets are riskier on rotation days because index-level direction is muted.

Why is it pricing this way?

Overnight Setup global & macro backdrop

Overnight Global Cues

Mixed cues

S&P +0.62% · Nikkei -0.12%

Macro Backdrop

Crude / USDINR

Crude $78.2 (+1.1%) · USDINR 95.20 (-0.12%)

Where is money moving today?

Sector Money Flow based on sector-index momentum

↑Money flowing IN

+1.42%

↓Money flowing OUT

Banks

-0.55%

Pharma

-0.09%

Gold

4,340.7

+2.33%

Silver

63.3

+3.08%

Copper

6.6

-1.74%

Crude

78.2

+1.15%

USDINR

95.20

-0.12%

10Y UST

4.66%

-0.21%

What are derivative traders doing?

NIFTY Option Chain nearest expiry 2026-08-11 · spot 24,571 · EOD 2026-08-07

Writers expect Nifty between 24,000 and 24,600 this week — +0.1% upside, -2.3% downside.

downside-skewed

Call OI (writers)	Strike	Put OI (writers)
27,820 IV 24% Δ 0.89 θ -20.7 ν 4	23950	1,488,760
650,520 IV 22% Δ 0.89 θ -19.2 ν 4	24000 S	10,350,795
44,525 IV 21% Δ 0.88 θ -19.5 ν 5	24050	1,926,600
343,330 IV 19% Δ 0.88 θ -17.5 ν 4	24100	4,782,765
53,040 IV 18% Δ 0.86 θ -18.9 ν 5	24150	2,560,155
954,395 IV 17% Δ 0.85 θ -18.0 ν 5	24200	6,513,455
130,195 IV 16% Δ 0.83 θ -18.7 ν 6	24250	2,561,845
858,845 IV 15% Δ 0.80 θ -19.5 ν 6	24300	6,186,505 IV 12% Δ -0.14 θ -9.4 ν 5
358,540 IV 15% Δ 0.76 θ -20.6 ν 7	24350	2,236,065 IV 12% Δ -0.18 θ -10.9 ν 6
1,353,430 IV 14% Δ 0.72 θ -21.1 ν 8	24400	5,546,710 IV 12% Δ -0.24 θ -12.3 ν 7
531,050 IV 14% Δ 0.67 θ -21.7 ν 8	24450	2,406,950 IV 12% Δ -0.30 θ -13.7 ν 8
3,932,175 IV 14% Δ 0.61 θ -22.1 ν 9	24500	7,437,300 IV 11% Δ -0.37 θ -14.1 ν 8
3,871,205 IV 13% Δ 0.55 θ -22.1 ν 9	24550	3,528,980 IV 11% Δ -0.44 θ -14.3 ν 9
12,354,030 IV 13% Δ 0.48 θ -21.6 ν 9	24600 R MP	7,978,035 IV 11% Δ -0.52 θ -13.7 ν 9
6,157,385 IV 13% Δ 0.41 θ -20.6 ν 9	24650	1,993,680 IV 11% Δ -0.61 θ -12.6 ν 9
10,355,930 IV 13% Δ 0.35 θ -19.2 ν 8	24700	2,421,380 IV 10% Δ -0.69 θ -10.5 ν 8
4,109,950 IV 13% Δ 0.28 θ -17.4 ν 8	24750	432,965 IV 10% Δ -0.77 θ -7.9 ν 7
9,555,520 IV 13% Δ 0.23 θ -15.3 ν 7	24800	993,460 IV 9% Δ -0.86 θ -3.8 ν 5
3,243,045 IV 13% Δ 0.18 θ -13.2 ν 6	24850	218,660 IV 7% Δ -0.94 θ +1.1 ν 2
7,710,235 IV 13% Δ 0.14 θ -11.2 ν 5	24900	327,145
3,437,330	24950	66,040
11,582,155	25000	622,440
3,705,845	25050	45,305
7,846,540	25100	74,360
2,698,020	25150	20,735

What this tells you

Spot 24,571

Resistance (R) 24,600

Support (S) 24,000

Max Pain (MP) 24,600

Highest call-OI strike = where writers expect resistance. Highest put-OI strike = where writers expect support. Max-pain magnet pulls strongest in expiry week.

Strategy Builder multi-leg payoff for NIFTY options · 2026-08-11 expiry

Underlying: NIFTY · Spot: ₹ 24,570.65 · Expiry: 2026-08-11 · Lot: 75

Legs

Side

Type

Strike

Qty

Premium

Net premium—

Max profit—

Max loss—

Breakevens—

Position Delta—

Position Theta/day—

Position Vega/1% IV—

Payoff at expiry

F&O OI Buildup stock futures · total OI across all expiries · 2026-08-07

Long Buildup price up + OI up — fresh longs added

LTM

+2.84%

OI +10.8%

RADICO

+0.90%

OI +7.1%

HEROMOTOCO

+2.58%

OI +6.7%

PGEL

+3.26%

OI +6.5%

SONACOMS

+3.72%

OI +6.3%

JUBLFOOD

+2.23%

OI +6.0%

MPHASIS

+3.38%

OI +5.8%

TECHM

+0.33%

OI +4.9%

Short Covering price up + OI down — shorts closing

BHARATFORG

+2.39%

OI -4.6%

UNIONBANK

+1.10%

OI -4.0%

HINDALCO

+2.37%

OI -3.7%

MOTILALOFS

+0.40%

OI -3.3%

MARUTI

+0.74%

OI -3.2%

WAAREEENER

+1.99%

OI -3.1%

BSE

+0.53%

OI -2.7%

LICI

+1.17%

OI -2.6%

Short Buildup price down + OI up — fresh shorts added

CROMPTON

-6.90%

OI +12.8%

BLUESTARCO

-2.76%

OI +11.7%

LUPIN

-1.02%

OI +10.3%

GODREJCP

-3.34%

OI +7.4%

SWIGGY

-2.48%

OI +6.0%

TRENT

-3.32%

OI +5.9%

ABCAPITAL

-4.01%

OI +5.1%

GVT&D

-2.09%

OI +4.8%

Long Unwinding price down + OI down — longs closing

BAJAJFINSV

-4.44%

OI -4.5%

DIVISLAB

-0.63%

OI -4.3%

TITAN

-1.19%

OI -2.9%

ABB

-0.55%

OI -2.5%

BANDHANBNK

-0.30%

OI -1.9%

DALBHARAT

-0.23%

OI -1.7%

PAYTM

-0.39%

OI -1.7%

UNITDSPR

-0.59%

OI -1.5%

Futures Basis Screener premium/discount of nearest-expiry futures to spot

↑ Premium · futures trading above spot

Symbol	Spot	Future	Basis %
MPHASIS	2,475.00	2,502.20	+1.10%
LTM	4,658.15	4,703.00	+0.96%
JSWENERGY	564.43	569.50	+0.90%
MUTHOOTFIN	2,890.00	2,915.10	+0.87%
FORTIS	955.26	963.25	+0.84%
MOTHERSON	168.50	169.84	+0.80%
BAJFINANCE	1,078.04	1,086.60	+0.79%
NTPC	342.50	345.20	+0.79%

↓ Discount · futures trading below spot

Symbol	Spot	Future	Basis %
IREDA	119.82	116.40	-2.85%
LICHSGFIN	504.25	495.00	-1.83%
IOC	143.37	141.55	-1.27%
PIIND	2,774.56	2,740.30	-1.24%
GODFRYPHLP	2,285.90	2,258.50	-1.20%
JUBLFOOD	486.47	480.70	-1.19%
BANDHANBNK	175.97	174.54	-0.81%
BHEL	405.27	402.15	-0.77%

Top Traded F&O Contracts where derivative volume is concentrated today

Contract	Type	Close	Traded Value	OI	OI Δ
NIFTY2681124600PE	IDO	105.20	8.29 L Cr	7,651,085	-892,385
NIFTY2681124600CE	IDO	111.45	7.62 L Cr	11,981,450	+6,448,520
NIFTY2681124500PE	IDO	63.60	6.89 L Cr	7,324,525	+1,499,680
NIFTY2681124550PE	IDO	83.00	6.52 L Cr	3,446,365	+1,008,410
NIFTY2681124700CE	IDO	68.55	4.43 L Cr	10,013,835	+1,682,265
NIFTY2681124550CE	IDO	138.85	3.94 L Cr	3,838,380	+2,804,620
NIFTY2681124650CE	IDO	88.45	3.93 L Cr	6,055,400	+1,657,760
NIFTY2681124400PE	IDO	35.60	3.38 L Cr	5,467,345	+217,360
NIFTY2681124800CE	IDO	38.65	3.31 L Cr	9,094,865	+2,426,320
NIFTY2681124500CE	IDO	170.20	2.98 L Cr	3,906,305	+1,136,525
NIFTY2681124450PE	IDO	47.65	2.70 L Cr	2,361,060	+172,185
NIFTY2681124650PE	IDO	131.85	2.69 L Cr	1,979,380	-1,767,090

Who's actually moving the money?

Smart Counterparty Activity 07-Aug-2026

1 FII buys / 1 sells · 112 deals totaling ₹2,255 Cr. Showing top 20 by value.

Stock	Type	Side	Qty	Value (₹ Cr)	Counterparty
TRIDENT Trident Limited	Bulk+Block	BUY	130,000,000	323.70	TRIDENT GROUP LIMITED
TRIDENT Trident Limited	Bulk+Block	SELL	130,000,000	323.70	MADHURAJ FOUNDATION
PGEL PG Electroplast Ltd	Bulk	SELL	1,592,521	99.81	GRAVITON RESEARCH CAPITAL LLP
PGEL PG Electroplast Ltd	Bulk	BUY	1,591,571	99.75	GRAVITON RESEARCH CAPITAL LLP
VARROC Varroc Engineering Ltd	Bulk	SELL	806,254	65.27	MICROCURVES TRADING PRIVATE LIMITED
VARROC Varroc Engineering Ltd	Bulk	BUY	806,254	65.23	MICROCURVES TRADING PRIVATE LIMITED
EMIL Electronics Mart Ind Ltd	Bulk	BUY	3,220,000	53.25	NAVODYA ENTERPRISES
PRSMJOHNSN Prism Johnson LTD	Bulk	SELL	3,085,569	36.93	MICROCURVES TRADING PRIVATE LIMITED
PRSMJOHNSN Prism Johnson LTD	Bulk	BUY	3,085,569	36.89	MICROCURVES TRADING PRIVATE LIMITED
EMIL Electronics Mart Ind Ltd	Bulk	BUY	2,323,580	36.17	QE SECURITIES LLP
ARVSMART Arvind SmartSpaces Ltd	Bulk	SELL	543,241	35.86	MICROCURVES TRADING PRIVATE LIMITED
ARVSMART Arvind SmartSpaces Ltd	Bulk	BUY	543,241	35.80	MICROCURVES TRADING PRIVATE LIMITED
EMIL Electronics Mart Ind Ltd	Bulk	BUY	2,108,297	35.20	ANANDAM ENTERPRISES
EMIL Electronics Mart Ind Ltd	Bulk	SELL	2,259,825	34.93	QE SECURITIES LLP
MVELECTRO MV Electrosystems Limited	Bulk	SELL	533,674	34.90	MICROCURVES TRADING PRIVATE LIMITED
MVELECTRO MV Electrosystems Limited	Bulk	BUY	533,674	34.89	MICROCURVES TRADING PRIVATE LIMITED
MVELECTRO MV Electrosystems Limited	Bulk	SELL	504,543	33.27	NK SECURITIES RESEARCH PRIVATE LIMITED
MVELECTRO MV Electrosystems Limited	Bulk	BUY	504,543	33.25	NK SECURITIES RESEARCH PRIVATE LIMITED
EMIL Electronics Mart Ind Ltd	Bulk	BUY	2,105,370	32.78	HRTI PRIVATE LIMITED
DIAMONDYD Prataap Snacks Limited	Bulk	BUY	273,968	32.32	AUTHUM INVESTMENT & INFRASTRUCTURE LIMITED

Institutional Streaks consecutive sessions with FII / MF / Insurance activity on the same side

Stock	Side	Streak	Total Value	Window	Notable Buyers
CMLL	BUY	2d	₹ 139 Cr	2026-07-24 → 2026-07-27	CARNELIAN ASSET MANAGEMENT & ADVISORS PRIVATE LIMITED · GOLDMAN SACHS BANK EUROPE SE ODI · PLUTUS RESEARCH PRIVATE LIMITED
GANDHAR	BUY	2d	₹ 44 Cr	2026-07-23 → 2026-07-24	SOCIETE GENERALE

What are institutions positioned for?

Institutional Positioning how FIIs are set up under the surface

FII Futures Posture

Heavy Short

net-long ratio -68.3%

FII Direction Streak

2 sessions

net accumulating futures

India VIX

12.16

Calm · +0.0% d/d

Days to Monthly Expiry

Thu, 27 Feb

Nifty PCR (EOD)

0.73

Bullish skew

Nifty Max Pain (EOD)

24,600

in line with spot (24,571)

Events Calendar next 3 weeks · earnings + macro releases + monthly expiry

2026-08-08

RBI RBI Monetary Policy Decision Repo rate decision + MPC statement

EARNINGS DELHIVERY reports earnings EPS est: 0.612

2026-08-10

EARNINGS BHARATFORG reports earnings EPS est: 7.95667

EARNINGS BOSCHLTD reports earnings EPS estimate unavailable

2026-08-11

EARNINGS GMRAIRPORT reports earnings EPS est: 0.3

2026-08-12

CPI India CPI Inflation (Jul) Headline + core inflation print

CPI US CPI Inflation (Jul) Drives Fed rate-cut expectations

EARNINGS APOLLOHOSP reports earnings EPS est: 38.30609

EARNINGS ASTRAL reports earnings EPS est: 4.43333

EARNINGS GRASIM reports earnings EPS est: 31.97

EARNINGS HAL reports earnings EPS est: 22.6425

2026-08-14

EARNINGS ALKEM reports earnings EPS est: 47.04429

EARNINGS ASHOKLEY reports earnings EPS est: 1.06222

EARNINGS BDL reports earnings EPS est: 3.055

2026-08-27

EXPIRY NIFTY / BankNifty Monthly F&O Expiry Theta accelerates; max-pain magnet near close

2026-08-29

IIP India Q1 FY27 GDP Quarterly GDP print

Have we been right before?

Signal Calendar last 14 weeks

Bullish Bearish Warning Quiet

FII Positioning Detail

FII Index Futures net-long ratio -68.3% +1.52 pp

FII calls long Δ -175,678

FII puts long Δ -119,317

FII calls short Δ -187,218

FII puts short Δ -138,794

Recent Signals click a date to revisit that day's dashboard

2025-02-12

DII Futures Build-up *

2025-02-06

Retail-vs-FII Divergence Widening *

2025-02-04

DII Futures Unwind *

2025-01-30

FII Short Covering Monthly Expiry Imminent * Retail-vs-FII Divergence Widening * DII Futures Unwind *

2025-01-29

Monthly Expiry Imminent * DII Futures Build-up *

2025-01-28

Monthly Expiry Imminent *

2025-01-03

FII Fresh Shorting

2025-01-02

Smart Money Accumulating

Smart-Money Flow Tracker for Indian Markets live FII / DII positioning, F&O OI buildup, bulk deals & option chain · 2025-02-13 · vs 2025-02-12

Stock Heatmap NIFTY 500 universe · sized by traded value · click any cell for details

Futures Heatmap F&O stocks · sized by futures traded value · coloured by OI buildup class

Stocks in Play positioning from 2025-02-13 · what to watch at next open

Market Pulse where things stand right now

Top Nifty Contributors stocks moving the index most today (weighted)

Smart Money Take interpretation, not just data