📊 FII/DII Weekly Report — Sun, 21 Jun, 2026

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

Measures how one-sided FII's futures buying vs selling was across the full week — not the absolute size but the relative aggression.

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

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

Weekly FSR = computed from total week buy/sell contracts (all trading days of the week)

Strength: >=0.20 Strong | >=0.10 Moderate | >=0.03 Weak | <0.03 Neutral

Reliability: Nifty most reliable → BankNifty → MidCap Nifty → FinNifty and NiftyNext50 least reliable. Stock futures is a broad signal only.

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

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

Positive = participant added longs or covered shorts vs last week (bullish positioning shift)

Negative = participant added shorts or unwound longs vs last week (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.

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

Weekly signal = computed from weekly net contracts and weekly OI change

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

Three independent FII signals combined — futures positioning shift, options positioning shift, and actual cash deployment. All computed on weekly basis.

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

S2 = Index Options Combined OFR (week over week) → >+0.05 bullish | <-0.05 bearish | else neutral

S3 = FII Cash Net (week total) vs dynamic weekly threshold (75th pctile of past 1yr weekly 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.

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)

Weekly Battle Table = two snapshots shown — previous week's last session vs current week's last session.

Compare both tables to see how each participant shifted their net position week over week.

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

💰 CASH MARKET (Week Total: 15-Jun to 19-Jun-2026)

FII: Buy ₹90,398 Cr | Sell ₹87,012 Cr | Net +₹3,386 Cr ▲

DII: Buy ₹85,430 Cr | Sell ₹78,322 Cr | Net +₹7,108 Cr ▲

Combined Net: +₹10,494 Cr

📊 INSTRUMENT WISE FUTURES SIGNAL (Week: 15-Jun to 19-Jun-2026)

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

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

FSR Strength (Weekly): >=0.20 Strong | >=0.10 Moderate | >=0.03 Weak | <0.03 Neutral

Signal = computed from weekly net contracts and weekly OI change.

Instrument Net Contracts OI Change FSR Strength Signal Price & Change

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INDEX +17,200 -17,968 +0.12 Moderate Bullish Short Covering —

NIFTY +24,147 -15,197 +0.23 Strong Bullish Short Covering 24,013.10 +390.20 (+1.65%)

BANKNIFTY -8,450 -2,726 -0.24 Strong Bearish Long Unwinding 57,685.75 +870.95 (+1.53%)

FINNIFTY +37 +49 +0.14 Moderate Bullish Long Buildup 26,431.15 +487.80 (+1.88%)

MIDCPNIFTY +1,413 -49 +0.27 Strong Bullish Short Covering 14,618.95 +373.35 (+2.62%)

NIFTYNXT50 +53 -45 +0.28 Strong Bullish Short Covering 72,356.65 +2,349.45 (+3.36%)

STOCK -149,994 +121,520 -0.05 Weak Bearish Short Buildup —

⚔️ BATTLE TABLE (Week Over Week)

PREVIOUS WEEK (12-Jun-2026)

Participant Long Short Net Direction vs FII

--------------------------------------------------------------

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

CURRENT WEEK (19-Jun-2026)

Participant Long Short Net Direction vs FII

--------------------------------------------------------------

FII 39,587 266,010 -226,423 Short — ★

DII 84,100 11,589 +72,511 Long Opposed

Client 238,409 76,124 +162,285 Long Opposed

Pro 46,731 55,104 -8,373 Short Aligned

👥 PARTICIPANT OI (Week Snapshot: 19-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 -2,26,423 +0.96 Strong Bullish

DII +72,511 +1.00 Strong Bullish

Client +1,62,285 -0.86 Strong Bearish

Pro -8,373 -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 +6,33,906 -1.00 Strong Bearish

DII -41,34,918 +1.00 Strong Bullish

Client +30,16,253 +0.22 Moderate Bullish

Pro +4,84,759 -0.23 Moderate 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 -3,00,320 -0.73 +6,29,690 -0.55 -0.64 Strong Bearish

DII +12,004 +0.97 +22,531 -0.96 +0.01 Neutral

Client +1,45,106 +0.11 -7,77,223 +0.06 +0.08 Weak Bullish

Pro +1,43,209 -0.09 +1,25,002 +0.03 -0.06 Weak 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 -1,73,688 -0.13 +1,35,528 -0.11 -0.12 Weak Bearish

DII -4,21,089 -1.00 +18,391 +0.33 -0.66 Strong Bearish

Client +12,21,588 +0.40 -3,63,644 -0.05 +0.35 Strong Bullish

Pro -6,26,811 -0.24 +2,09,725 +0.12 -0.11 Weak Bearish

🎯 CONVICTION SCORE (Weekly)

S1 Futures OFR : +1 (Bullish)

S2 Options OFR : -1 (Bearish)

S3 Cash Market : 0 (Threshold: ₹14,900 Cr)

Total : 0/3 → Neutral

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 deployed ₹3,386 Cr in cash across the week with index futures net short covering of 17,200 contracts but stock futures net short buildup of 149,994 contracts, creating a fundamental divergence where index hedging masks aggressive individual stock short positioning. Index options Combined OFR turned strong bearish at -0.64 by week's end while index futures OFR remained moderately bullish at +0.12, establishing that FII's derivatives positioning is genuinely bearish in conviction despite the cash accumulation—the hedging warning active on Friday confirms FII is using derivatives to express directional views, not protect existing longs. The conviction score of neutral 0/3 reflects the week's core conflict: S1 and S2 both turned bearish by Friday while S3 cash remained positive, but the simultaneous bearish flip in both derivatives signals genuine directional conviction forming rather than mechanical hedging. DII's +₹7,108 Cr accumulation provided consistent domestic institutional support throughout the week, but their own stock options turned strong bearish at -0.92 by Friday, signaling even domestic conviction is fragmenting between index protection and stock reduction.

DII emerged as the week's only unambiguous accumulator with +₹7,108 Cr cash deployment and strong bullish index futures OFR at +1.00 sustained across all five sessions, establishing a structural domestic bid that absorbed every session of FII selling. Client remained positioned opposite to FII with +162,285 net long index futures and strong bullish stock options Combined OFR at +0.82 by Friday, maintaining the historical divergence pattern where minority FII positioning tends to be correct at inflection points—this pattern is now active with FII's Friday bearish reversal. Pro shifted from aligned with FII early week to opposed by Friday, with index futures OFR turning strong bearish at -1.00 while stock options remained neutral at +0.01, indicating prop capital is fading FII's emerging bearish conviction rather than joining it. The critical divergence is stock futures: FII's net short buildup of 149,994 contracts with weak bearish FSR -0.05 shows genuine stock conviction, while DII's net short of 4,134,918 with strong bullish OFR at +1.00 reveals domestic capital is rotating into index hedges while reducing individual stock exposure—opposite conviction domains with FII short stocks and DII long indices.

The previous week (ended 12-Jun) established FII already positioned short -243,623 index futures with hedging warning active, indicating portfolio protection rather than directional conviction. This week extended that short to -226,423 by Friday, but the path was not linear: Monday-Thursday showed consistent short covering with index futures OFR at +1.00 and cash selling of ₹448 Cr, representing forced position closure into weekly expiry. Friday broke the pattern entirely with FII buying ₹4,859 Cr while building fresh index shorts and stock shorts with both derivatives turning strong bearish, establishing a genuine directional reversal from de-risking into active short positioning. The multi-week arc shows FII did not sustain the prior week's bearish conviction but instead used Monday's tactical short covering to test domestic support, found DII's consistent accumulation, and reversed into genuine bearish conviction by Friday—this is conviction building rather than exhausting, with stock short positioning accelerating into next week.

FII enters next week with weak bearish conviction (-1/3 score) backed by strong options confirmation and aggressive stock short positioning at 149,994 net contracts, establishing a setup where bearish conviction is early-stage and has room to extend if DII's support cracks further. DII's cash support broke on Friday at -₹1,160 Cr after four consecutive days of accumulation, signaling domestic institutional confidence is fragmenting precisely as FII turns directional bearish—a materially different environment from the week's opening where DII provided unambiguous support. Client's opposition in index futures combined with strong bullish stock options suggests institutional capital is divided on FII's bearish reversal's sustainability. Weekly Nifty expiry in 4 days creates immediate rollover mechanics that will force position resolution, but the underlying structure shows FII's bearish conviction is now opposed by both DII and Client rather than supported, creating a contested institutional environment where conviction could either build if selling accelerates or reverse sharply if domestic support re-establishes.

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.