🌅 FII/DII Morning Report — Mon, 15 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 (12-Jun-2026)

FII: Buy ₹12,065 Cr | Sell ₹13,147 Cr | Net -₹1,082 Cr ▼

DII: Buy ₹18,877 Cr | Sell ₹13,536 Cr | Net +₹5,341 Cr ▲

Combined Net: +₹4,259 Cr

Participant Long Short Net Direction vs FII

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FII 39,971 283,594 -243,623 Short — ★

DII 75,317 13,508 +61,809 Long Opposed

Client 258,005 77,605 +180,400 Long Opposed

Pro 56,144 54,730 +1,414 Long Neutral

📊 INSTRUMENT WISE FUTURES SIGNAL (12-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 +23,360 -12,546 +0.34 Strong Bullish Short Covering —

NIFTY +21,324 -11,050 +0.42 Strong Bullish Short Covering 23,622.90 +461.30 (+1.99%)

BANKNIFTY +2,158 -1,342 +0.14 Weak Bullish Short Covering 56,814.80 +1,638.05 (+2.97%)

FINNIFTY +28 +28 +0.27 Moderate Bullish Long Buildup 25,943.35 +791.35 (+3.15%)

MIDCPNIFTY -142 -188 -0.07 Weak Bearish Long Unwinding 14,245.60 +379.05 (+2.73%)

NIFTYNXT50 -8 +6 -0.17 Moderate Bearish Short Buildup 70,007.20 +1,628.45 (+2.38%)

STOCK +64,792 +19,914 +0.10 Weak Bullish Long Buildup —

👥 PARTICIPANT OI (12-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 -2,43,623 +1.00 Strong Bullish

DII +61,809 +0.71 Strong Bullish

Client +1,80,400 -1.00 Strong Bearish

Pro +1,414 -1.00 Strong Bearish

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 +7,83,900 +1.00 Strong Bullish

DII -43,07,777 -0.60 Strong Bearish

Client +29,80,337 -0.11 Weak Bearish

Pro +5,43,540 -1.00 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 -2,09,020 +0.98 +5,42,612 -0.01 +0.96 Strong Bullish

DII +10,234 +0.74 +18,935 +1.00 +0.87 Strong Bullish

Client +23,033 -0.45 -7,12,299 -0.04 -0.24 Moderate Bearish

Pro +1,75,753 +0.88 +1,50,752 +0.06 +0.47 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 -1,47,691 +0.41 +1,12,373 +0.42 +0.41 Strong Bullish

DII -3,89,983 -1.00 +20,882 +0.06 -0.94 Strong Bearish

Client +10,29,357 -1.00 -3,78,773 -1.00 -1.00 Strong Bearish

Pro -4,91,683 +1.00 +2,45,518 +0.58 +0.79 Strong Bullish

S1 Futures OFR : +1 (Bullish)

S2 Options OFR : +1 (Bullish)

S3 Cash Market : 0 (Threshold: ₹3,800 Cr)

Total : +2/3 → Moderate Bullish

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 ₹1,082 Cr in cash on 12-Jun while simultaneously executing strong bullish short covering in index futures (FSR +0.42 on Nifty, +0.34 overall) with OI declining 12,546 contracts—the classic hedging signature where cash and futures point opposite directions. Index options Combined OFR confirmed this was genuine bullish conviction, not defensive hedging, with FII's +0.96 strong bullish reading aligned perfectly with futures short covering, establishing that FII was closing existing short positions with real directional intent. Stock futures net long of +64,792 contracts with +0.10 weak bullish FSR shows FII maintained stock accumulation even while reducing index shorts, confirming the cash selling was rebalancing not capitulation. DII absorbed the cash selling with +₹5,341 Cr accumulation and +0.71 strong bullish index futures OFR, providing structural support that prevented any institutional vacuum. Client remained opposed to FII with +180,400 net long index futures—the historical divergence pattern that favors FII at inflection points is now active with FII's bullish reversal.

Yesterday's session represented the continuation and acceleration of Friday's bullish reversal that began mid-week. The week's arc moved from Monday's genuine -3/3 bearish conviction through Tuesday's hedging warning into Wednesday-Thursday mechanical unwinding, culminating in Friday's +2/3 bullish conviction that extended into 12-Jun's strong short covering. FII's conviction score improved from +1/3 weak bullish on Friday to +2/3 moderate bullish yesterday, with both index futures OFR and index options Combined OFR remaining strongly aligned at +1.00 and +0.96 respectively. The pattern shows conviction building rather than fading—stock futures net long position held steady above +783,900 contracts, DII's accumulation continued unbroken at +₹5,341 Cr, and the domestic institutional floor that emerged mid-week remained intact. This is not a one-day reversal but a multi-session repositioning where FII's bullish positioning is gaining institutional confirmation rather than facing opposition.

FII enters today with established moderate bullish conviction backed by aligned derivatives signals and sustained domestic institutional support, representing a materially different environment from the week's opening bearish isolation. The weekly Nifty expiry tomorrow creates rollover mechanics that could amplify positioning flows, but the underlying structure shows FII's bullish conviction is supported by DII's consistent accumulation and opposed only by Client and Pro—a divided institutional landscape where the dominant participant (FII with -243,623 net short index futures) is reversing into longs rather than defending shorts. DII's strong bullish alignment across both index futures and index options, combined with their +₹24,014 Cr weekly absorption, establishes a structural bid that makes pullbacks buyable rather than dangerous. The stock futures divergence—FII long +783,900 while DII short -4,307,777—shows conviction is split by instrument domain, with FII betting on individual stock strength while DII hedges index exposure, creating a setup where stock-specific selection matters more than broad index direction.

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.