🌅 FII/DII Morning Report — Tue, 9 Jun, 2026

FSR (Flow Strength Ratio): Range -1 to +1

Measures how one-sided FII's futures buying vs selling was — not the absolute size but the relative aggression. Two sessions with identical net contracts can have very different FSR values depending on total activity.

Positive = FII bought more contracts than sold (bullish flow)

Negative = FII sold more contracts than bought (bearish flow)

Strength: >=0.30 Strong | >=0.15 Moderate | >=0.05 Weak | <0.05 Neutral

Reliability: Nifty most reliable → BankNifty → MidCap Nifty → FinNifty and NiftyNext50 least reliable. Stock futures is a broad signal only — individual stock breakdown not available.

OFR (OI Flow Ratio): Range -1 to +1

Measures how a participant's accumulated long and short positions shifted compared to the previous session — not how much they traded today but how their total positioning changed.

Positive = participant adding longs or closing shorts (bullish positioning shift)

Negative = participant adding shorts or closing longs (bearish positioning shift)

Strength: >=0.30 Strong | >=0.15 Moderate | >=0.05 Weak | <0.05 Neutral

Caution: Futures OFR is especially misleading for FII because portfolio hedging inflates their futures positions. For DII, Client, and Pro, futures OFR is more likely directional but still less reliable than options Combined OFR. Always prefer options Combined OFR over futures OFR when they conflict.

Combined OFR: Range -1 to +1

Merges Call OFR and Put OFR into one unified options signal per participant. Shown for options rows only — futures rows show dash because futures have only one OFR value.

When Call and Put OFR agree — high confidence directional signal.

When Call and Put OFR conflict — dominant side wins but with reduced conviction. The conflict itself is meaningful.

Put OFR sign is automatically flipped so positive always means bullish — consistent with calls and futures.

Strength: >=0.30 Strong | >=0.15 Moderate | >=0.05 Weak | <0.05 Neutral

Signals:

Long Buildup = OI up + Net Buy → fresh longs added, bullish

Short Buildup = OI up + Net Sell → fresh shorts added, bearish

Short Covering = OI down + Net Buy → shorts being closed, bullish

Long Unwinding = OI down + Net Sell → longs being closed, bearish

Conviction Score (S1+S2+S3): Range -3 to +3

Three independent FII signals combined — futures positioning shift, options positioning shift, and actual cash deployment.

S1 = Index Futures OFR → >+0.05 bullish | <-0.05 bearish | else neutral

S2 = Index Options Combined OFR → same thresholds

S3 = FII Cash Net vs dynamic threshold (75th pctile of past 1yr flows)

+3 Strong Bullish | +2 Moderate Bullish | +1 Weak Bullish | 0 Neutral

-1 Weak Bearish | -2 Moderate Bearish | -3 Strong Bearish

Hedging Warning: fires when S1=S2 but S3 contradicts — FII using derivatives to hedge equity portfolio, not a directional bet. Do not treat conviction score as directional when active.

Battle Table:

Positive net = net long (bullish) | Negative net = net short (bearish)

Neutral = less than 2% directional bias

Aligned = same direction as FII | Opposed = opposite to FII

★ = Dominant participant (largest absolute net position)

When Client Opposed to FII → historically FII tends to be correct at inflection points.

💰 CASH MARKET (08-Jun-2026)

FII: Buy ₹8,842 Cr | Sell ₹14,398 Cr | Net -₹5,556 Cr ▼

DII: Buy ₹16,683 Cr | Sell ₹11,518 Cr | Net +₹5,165 Cr ▲

Combined Net: -₹390 Cr

Participant Long Short Net Direction vs FII

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FII 24,810 302,424 -277,614 Short — ★

DII 64,282 20,337 +43,945 Long Opposed

Client 291,791 80,764 +211,027 Long Opposed

Pro 63,140 40,498 +22,642 Long Opposed

📊 INSTRUMENT WISE FUTURES SIGNAL (08-Jun-2026)

Note: Net Contracts = Today's buy contracts - today's sell contracts. Positive = FII bought more than sold. Negative = FII sold more than bought.

OI Change = Change in total open interest vs previous day. Positive = new contracts added (OI increased). Negative = contracts squared off (OI reduced).

Instrument Net Contracts OI Change FSR Strength Signal Price & Change

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INDEX -9,908 +7,612 -0.35 Strong Bearish Short Buildup —

NIFTY -8,588 +7,840 -0.43 Strong Bearish Short Buildup 23,123.00 -243.70 (-1.04%)

BANKNIFTY -770 -954 -0.12 Weak Bearish Long Unwinding 54,063.75 -432.50 (-0.79%)

FINNIFTY -1 -3 -0.03 Neutral Long Unwinding 24,805.00 -251.80 (-1.00%)

MIDCPNIFTY -562 +722 -0.30 Strong Bearish Short Buildup 13,994.75 -112.75 (-0.80%)

NIFTYNXT50 +13 +7 +0.28 Moderate Bullish Long Buildup 68,975.40 -1,216.55 (-1.73%)

STOCK -1,229 +17,299 -0.00 Neutral Short Buildup —

👥 PARTICIPANT OI (08-Jun-2026)

Note: All participant OI data is combined across all expiries — NSE F&O data only. Not expiry specific. Current month contracts are the most liquid — majority of activity happens there — data can be used accordingly.

Conviction Score is available for FII only. For DII, Client, and Pro — use options Combined OFR as their primary directional signal. Futures OFR is especially misleading for FII due to portfolio hedging — less so for DII, Client, and Pro who are more likely directional.

Note: Net OI = Long OI - Short OI. This is NOT daily buy/sell — it is the total accumulated position. Positive = longs are more than shorts. Negative = shorts are more than longs.

FII negative Net OI does not always mean FII is heavily bearish — FII may use index futures to hedge their equity portfolio. However if options Combined OFR also turns bearish simultaneously, it is genuine directional conviction, not hedging. Always cross-check with options Combined OFR and FII Conviction Score before concluding.

Participant Net OI OFR Strength

FII -2,77,614 -1.00 Strong Bearish

DII +43,945 +0.62 Strong Bullish

Client +2,11,027 +0.32 Strong Bullish

Pro +22,642 +1.00 Strong Bullish

Note: Net OI = Long OI - Short OI. This is NOT daily buy/sell — it is the total accumulated position. Positive = longs are more than shorts. Negative = shorts are more than longs.

FII negative Net OI does not always mean FII is heavily bearish — FII may use stock futures to hedge individual stock positions. However if options Combined OFR also turns bearish simultaneously, it is genuine directional conviction. Always cross-check with options Combined OFR and FII Conviction Score before concluding.

Participant Net OI OFR Strength

FII +6,99,749 -0.07 Weak Bearish

DII -42,75,960 -0.23 Moderate Bearish

Client +30,00,955 -1.00 Strong Bearish

Pro +5,75,256 +1.00 Strong Bullish

Note: Call Net OI = Call Long - Call Short. Positive = net long calls (bullish). Negative = net short calls (bearish).

Put Net OI = Put Long - Put Short. Positive = net long puts (bearish). Negative = net short puts (bullish).

Always prefer Combined OFR for options — it gives the complete directional picture.

Participant Call Net OI Call OFR Put Net OI Put OFR Combined OFR Combined Strength

FII -2,93,936 -0.10 +5,49,435 -0.75 -0.42 Strong Bearish

DII +7,869 -1.00 +23,857 -0.46 -0.73 Strong Bearish

Client +1,93,310 +0.10 -8,20,070 +0.03 +0.06 Weak Bullish

Pro +92,757 -1.00 +2,46,777 +0.07 -0.93 Strong Bearish

Note: Call Net OI = Call Long - Call Short. Positive = net long calls (bullish). Negative = net short calls (bearish).

Put Net OI = Put Long - Put Short. Positive = net long puts (bearish). Negative = net short puts (bullish).

Always prefer Combined OFR for options — it gives the complete directional picture.

Participant Call Net OI Call OFR Put Net OI Put OFR Combined OFR Combined Strength

FII -1,27,030 -0.46 +94,710 -0.39 -0.42 Strong Bearish

DII -3,16,780 -1.00 +19,647 +1.00 +0.00 Neutral

Client +10,50,081 +0.67 -4,12,711 +1.00 +0.84 Strong Bullish

Pro -6,06,271 -0.54 +2,98,354 -0.31 -0.43 Strong Bearish

S1 Futures OFR : -1 (Bearish)

S2 Options OFR : -1 (Bearish)

S3 Cash Market : -1 (Threshold: ₹3,800 Cr)

Total : -3/3 → Strong Bearish

Hedging Warning : Not Active

Note: Conviction Score is FII only. For DII, Client, and Pro — use options Combined OFR as their primary directional signal. Futures OFR is especially misleading for FII due to portfolio hedging — for other participants it is more likely directional but options Combined OFR remains the stronger signal.

FII sold ₹5,556 Cr in cash while building index futures shorts with Strong Bearish FSR of -0.43 on Nifty through Short Buildup activity, and index options Combined OFR confirmed -0.42 Strong Bearish — all three conviction signals aligned at -3/3 with no hedging contradiction, establishing genuine directional short conviction rather than portfolio protection. Cash and futures pointed the same direction, options confirmed futures, and the conviction score was clean across all three independent signals. DII, Client, and Pro all held long index futures positions while FII dominated as the only net short participant with -277,614 accumulated contracts, creating a three-against-one institutional battle where FII's absolute magnitude made it the dominant force despite being outnumbered.

Monday's session established FII's first genuine bearish directional move of the week with strong one-sided selling conviction and matching options confirmation — this was not routine hedging but a deliberate positioning shift that broke from any prior week pattern. The week total shows FII net selling of ₹5,556 Cr absorbed by DII buying of ₹5,165 Cr, creating a domestic institutional floor that is holding but not enthusiastically. With only one trading day complete, the pattern is too early to call sustained, but the quality of Monday's conviction score at -3/3 with options confirming futures signals this is a genuine institutional reversal, not noise.

FII entered the week with a clean bearish directional stance backed by options confirmation and strong one-sided futures selling, establishing genuine short conviction across both indices and stocks with no hedging contradiction masking the signal. The domestic institutional floor remains intact through DII and Client accumulation, but FII's -277,614 net short position in index futures now dominates the battlefield and will determine whether today extends the bearish pattern or reverses it. Weekly Nifty expiry today creates a critical inflection point where FII's conviction will either build further or crack under domestic institutional support.

All metrics are for informational and analytical purposes only. Signals reflect past positioning and do not guarantee future market direction. This report reflects prior day data — it is not live data, as exchanges do not provide FII/DII data in real time. Past data does not reflect future directional activity of FII/DII. Do your own research before making any trading or investment decisions. This is not financial advice. Always consult a SEBI registered financial advisor before taking any decision.