📊 FII/DII Weekly Report — Sun, 5 Jul, 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: 29-Jun to 03-Jul-2026)

FII: Buy ₹87,007 Cr | Sell ₹91,011 Cr | Net -₹4,004 Cr ▼

DII: Buy ₹131,911 Cr | Sell ₹119,277 Cr | Net +₹12,634 Cr ▲

Combined Net: +₹8,630 Cr

📊 INSTRUMENT WISE FUTURES SIGNAL (Week: 29-Jun to 03-Jul-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 -47,431 -15,922 -0.12 Moderate Bearish Long Unwinding —

NIFTY -27,347 -16,654 -0.10 Weak Bearish Long Unwinding 24,270.85 +214.85 (+0.89%)

BANKNIFTY -19,693 +1,444 -0.23 Strong Bearish Short Buildup 57,938.50 -238.55 (-0.41%)

FINNIFTY -16 -115 -0.03 Neutral Long Unwinding 26,875.05 +104.50 (+0.39%)

MIDCPNIFTY -357 -597 -0.02 Neutral Long Unwinding 14,545.90 +111.35 (+0.77%)

NIFTYNXT50 -18 0 -0.02 Neutral No Change 72,268.95 +69.40 (+0.10%)

STOCK +32,582 -368,300 +0.00 Neutral Short Covering —

⚔️ BATTLE TABLE (Week Over Week)

PREVIOUS WEEK (25-Jun-2026)

Participant Long Short Net Direction vs FII

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

FII 51,212 275,021 -223,809 Short — ★

DII 81,983 12,596 +69,387 Long Opposed

Client 231,872 80,830 +151,042 Long Opposed

Pro 54,221 50,841 +3,380 Long Opposed

CURRENT WEEK (03-Jul-2026)

Participant Long Short Net Direction vs FII

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

FII 29,772 280,539 -250,767 Short — ★

DII 76,163 11,589 +64,574 Long Opposed

Client 239,868 67,171 +172,697 Long Opposed

Pro 44,875 31,379 +13,496 Long Opposed

👥 PARTICIPANT OI (Week Snapshot: 03-Jul-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 -2,50,767 -1.00 Strong Bearish

DII +64,574 -0.70 Strong Bearish

Client +1,72,697 +1.00 Strong Bullish

Pro +13,496 +0.35 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 +5,47,349 -0.29 Moderate Bearish

DII -40,34,815 -0.04 Neutral

Client +29,77,493 +0.14 Weak Bullish

Pro +5,09,973 +0.32 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 -2,33,473 +0.07 +4,77,175 +0.29 +0.18 Moderate Bullish

DII +3,255 -1.00 +25,041 -0.99 -1.00 Strong Bearish

Client +89,025 -0.11 -6,12,821 -0.49 -0.30 Strong Bearish

Pro +1,41,192 +0.28 +1,10,605 +0.11 +0.20 Moderate 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 -80,446 +0.20 +65,145 +0.21 +0.20 Moderate Bullish

DII -2,01,216 +1.00 +28,521 -0.41 +0.58 Strong Bullish

Client +5,73,046 -0.36 -2,67,197 -0.16 -0.26 Moderate Bearish

Pro -2,91,384 +0.14 +1,73,531 +0.00 +0.07 Weak Bullish

🎯 CONVICTION SCORE (Weekly)

S1 Futures OFR : -1 (Bearish)

S2 Options OFR : +1 (Bullish)

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 distributed ₹4,004 Cr in cash across the week while building index shorts that peaked at -260,059 contracts on Wednesday before unwinding to -250,767 by Friday, creating a pattern of tactical rotation rather than sustained directional conviction. Index futures FSR collapsed from Moderate Bearish at -0.29 on Wednesday to Neutral by week's end, while index options Combined OFR shifted from Weak Bearish at -0.11 to Moderate Bearish at -0.24, revealing conviction signals that built then faded as position unwinding accelerated. Stock futures net of +547,349 contracts with Moderate Bullish OFR shows FII's genuine conviction is concentrated in individual stock selection, not macro index direction, with the positioning structure fundamentally defensive—short index, long stocks, bearish options protection—rather than a committed directional bet.

DII emerged as the week's dominant institutional force with +₹12,634 Cr cumulative cash accumulation through Thursday before reversing into -₹1,954 Cr selling on Friday, signaling they sensed FII's defensive structure and withdrew support rather than sustaining conviction. Client remained positioned opposite to FII with +172,697 net long index futures and maintained opposition across both index and stock derivatives throughout the week, while their options Combined OFR turned Moderate Bearish by Friday, indicating they too are hedging rather than defending outright. Pro aligned with DII's accumulation early week but their index futures OFR collapsed to Strong Bearish by Friday alongside their stock options OFR at -1.00, revealing all domestic participants shifted from genuine conviction to defensive hedging as FII's positioning became increasingly transparent.

The previous week (ended 25-Jun) established FII already positioned short -223,809 index futures with Moderate Bullish conviction score of +2/3, indicating portfolio protection rather than directional conviction. This week extended that short to -250,767 by Wednesday, marking the critical inflection where FII moved from hedging into genuine bearish directional conviction with Weak Bearish score of -1/3, but the conviction collapsed by Friday as FII unwound index shorts while building stock longs, revealing the week's dominant pattern: FII rotated from macro bearish to stock bullish positioning, not sustained directional shorting. DII's four-day accumulation of +₹12,634 Cr provided consistent floor support through Thursday, but their Friday reversal into selling signals the domestic institutional bid was tactical accumulation on dips rather than conviction in sustained support.

FII enters next week carrying -250,767 index futures net shorts being systematically closed through Short Covering while maintaining +547,349 stock futures net longs with Moderate Bullish OFR, establishing a hedged long-equity-short-index structure that is fundamentally defensive rather than bullish. DII's ₹12,634 Cr week total is being progressively hedged with both index and stock options Combined OFR turning bearish by Friday, while their Friday selling breaks the accumulation pattern and signals they sense FII's defensive positioning and are unwilling to provide additional support. Weekly expiry on Tuesday will force rapid position resolution, and with FII concentrated in defensive stock conviction while DII withdraws support and Client opposition unhedged, the market enters next week without institutional conviction—FII is protecting rather than attacking, and the structural floor has cracked.

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.