📊 FII/DII Weekly Report — Sun, 12 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: 06-Jul to 10-Jul-2026)

FII: Buy ₹77,271 Cr | Sell ₹72,601 Cr | Net +₹4,670 Cr ▲

DII: Buy ₹93,265 Cr | Sell ₹84,989 Cr | Net +₹8,276 Cr ▲

Combined Net: +₹12,946 Cr

📊 INSTRUMENT WISE FUTURES SIGNAL (Week: 06-Jul to 10-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 -3,944 +13,254 -0.03 Neutral Short Buildup —

NIFTY -3,165 +11,099 -0.03 Neutral Short Buildup 24,206.90 -63.95 (-0.26%)

BANKNIFTY +193 +2,501 +0.00 Neutral Long Buildup 58,045.90 +107.40 (+0.19%)

FINNIFTY -11 +11 -0.04 Weak Bearish Short Buildup 26,831.05 -44.00 (-0.16%)

MIDCPNIFTY -942 -280 -0.22 Strong Bearish Long Unwinding 14,820.90 +275.00 (+1.89%)

NIFTYNXT50 -19 -77 -0.07 Weak Bearish Long Unwinding 72,391.80 +122.85 (+0.17%)

STOCK +91,079 -79,069 +0.03 Neutral Short Covering —

⚔️ BATTLE TABLE (Week Over Week)

PREVIOUS 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

CURRENT WEEK (10-Jul-2026)

Participant Long Short Net Direction vs FII

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

FII 34,427 289,138 -254,711 Short — ★

DII 78,304 10,880 +67,424 Long Opposed

Client 230,182 60,551 +169,631 Long Opposed

Pro 51,172 33,516 +17,656 Long Opposed

👥 PARTICIPANT OI (Week Snapshot: 10-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 -2,54,711 -0.30 Moderate Bearish

DII +67,424 +1.00 Strong Bullish

Client +1,69,631 -0.19 Moderate Bearish

Pro +17,656 +0.49 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 +6,38,428 +1.00 Strong Bullish

DII -39,39,094 +1.00 Strong Bullish

Client +28,45,160 -1.00 Strong Bearish

Pro +4,55,506 -0.42 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 -2,18,611 +0.22 +4,78,558 -0.01 +0.21 Moderate Bullish

DII +4,821 +0.92 +28,435 -1.00 -0.08 Weak Bearish

Client +38,875 -0.06 -6,29,518 +0.17 +0.11 Weak Bullish

Pro +1,74,916 +0.60 +1,22,524 -0.04 +0.57 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 -1,33,821 -0.28 +1,25,070 -0.31 -0.29 Moderate Bearish

DII -3,43,919 -0.96 +24,499 +0.66 -0.29 Moderate Bearish

Client +8,23,922 +0.38 -3,01,052 +0.12 +0.25 Moderate Bullish

Pro -3,46,182 -0.10 +1,51,483 +0.05 -0.05 Neutral

🎯 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 accumulated ₹4,670 Cr in cash while executing a week-long rotation from defensive hedging into genuine short covering conviction, with index futures net shorts declining from -250,767 to -254,711 contracts despite aggressive Short Buildup on Wednesday—the apparent contradiction resolves through the conviction score's progression from +2/3 Moderate Bullish Monday into -2/3 Moderate Bearish Wednesday before returning to +2/3 Friday, revealing FII spent the week rebalancing portfolio protection rather than building directional conviction. Index options Combined OFR collapsed from +0.58 Strong Bullish Monday to +0.01 Neutral Tuesday, then turned -0.31 Strong Bearish Wednesday before recovering to +0.58 Strong Bullish Friday, confirming that only Friday's session showed genuine conviction alignment between cash and derivatives—the prior four days were mechanical hedging repositioning. Stock futures net of +638,428 contracts with Strong Bullish OFR shows FII's real conviction concentrated in individual stock selection, not macro index direction, establishing a hedged long-equity-short-index structure that is fundamentally defensive rather than bullish.

DII's positioning fractured across the week: Monday's aggressive ₹3,791 Cr buy with Strong Bullish index options OFR at +1.00 reversed into Tuesday's ₹383 Cr selling that broke the domestic floor, then Wednesday's ₹790 Cr return came alongside Strong Bearish index options at -0.61, indicating domestic institutions shifted from conviction accumulation into defensive hedging by mid-week. Friday's ₹2,020 Cr buy matched FII's accumulation but index options Combined OFR turned Strong Bearish at -0.96, confirming DII is now fading FII's move rather than supporting it—domestic capital is protecting rather than providing structural support. Client and Pro remained opposed to FII across index futures throughout the week with net longs of +169,631 and +17,656 respectively, but their options signals fractured internally: Client's index options turned Moderate Bearish by Friday while Pro's turned Strong Bullish, leaving the non-FII institutional camp without unified conviction. Stock futures revealed the deepest divergence: FII Strong Bullish at +1.00, DII Strong Bullish at +1.00, but Client Strong Bearish at -0.66 and Pro Strong Bearish at -0.19, showing FII and DII aligned on individual stock conviction while Client and Pro opposed them—a rare alignment between the two largest participants against retail and proprietary traders.

The prior week (ended 03-Jul) established FII distributed ₹4,004 Cr while building index shorts that peaked at -250,767 contracts with Moderate Bullish conviction score of +2/3, indicating portfolio protection rather than directional conviction. This week extended that short to -254,711 by Friday, marking a continuation of the same hedging posture rather than a reversal into genuine bearish conviction—FII's index futures net actually grew more negative despite the week's cash accumulation, confirming the cash inflows were deployed to hedge rather than to take fresh directional risk. DII's pattern shifted more dramatically: prior week's four-day accumulation of +₹12,634 Cr provided structural support that cracked on Friday with ₹1,954 Cr selling, and this week's opening with ₹3,791 Cr buying suggested the floor had returned, but Tuesday's reversal into selling and Wednesday's conflicted positioning (cash buying alongside bearish derivatives) confirmed the domestic institutional floor remains unstable rather than committed. The multi-week arc shows both major participants progressively reducing net directional exposure while appearing to accumulate in cash—a pattern of defensive rebalancing rather than conviction-driven positioning.

FII enters next week carrying -254,711 index futures net shorts being systematically closed through Short Covering with Strong Bullish FSR of +0.44 on Friday, while maintaining +638,428 stock futures net longs with Strong Bullish OFR, establishing a hedged long-equity-short-index structure that is fundamentally defensive rather than bullish—they are protecting existing stock positions, not attacking the market. DII's ₹8,276 Cr week total is being progressively hedged with index options Combined OFR turning Strong Bearish at -0.96 by Friday despite matching FII's cash buying, signaling domestic institutions sense FII's defensive positioning and are unwilling to provide additional support—the domestic institutional floor has cracked and remains unstable. 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, DII is fading rather than supporting, and the structural floor that provides stability in volatile markets has evaporated entirely.

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.