FIIs were net sellers in cash and index futures while DIIs were net buyers, leaving the aggregate flow direction ambiguous, but the derivatives positioning showed Nifty 50 leaning short with rising PCR and Bank Nifty showing reduced put pressure, and the tape highlighted heavy put writing in Nifty and Sensex options, resulting in a session where directional flow conflicted with positioning that favored short exposure.

• 01FII index futures short buildup if open interest crosses 2,68,604 contracts
• 02DII cash flow sustaining above ₹4,977 lakh if net buying persists
• 03Nifty PCR rising above 0.90 confirming put writing into support
• 04Bank Nifty PCR declining below 1.02 signaling further put relief

Wrong ifIf Nifty 50 closes above 23950 with PCR falling below 0.80 and FII index futures long buildup exceeding 10,000 contracts, the stance of flow absorbing short is proven wrong.