Participant-Wise Open Interest Analysis – Nifty 50 Outlook
Date: June 24, 2025
Focus: Equity Derivatives positioning — Nifty 50 trend signals
🔍 1. Foreign Institutional Investors (FII) – Turning Cautious
Type Long Short Net
Index Futures 46,141 155,612 –109,471
Put Options Long 684,667 ↗️ increased from 704k → caution/hedge
Call Options Long 657,824 ↗️ slightly up — still below puts
Put Shorts 552,240 ↗️ higher — suggests expectation of downside cushioning
Call Shorts 579,392 ↑ more aggressive — bearish range bet
🔸 Inference:
FIIs increased index futures shorts, maintaining strong bearish bias.
Higher call short OI and put longs point to defensive positioning, expecting downside or at best, rangebound movement.
🧰 2. Domestic Institutional Investors (DII) – Steady Bullish Base
Type Long Short Net
Index Futures 77,256 42,747 +34,509
🔸 Inference:
DIIs remain net long, showing supportive stance towards the index.
However, their huge stock future shorts (~4.2M) likely represent sectoral hedging or profit-booking, not direct index negativity.
🧠 3. Proprietary Traders (PRO) – Volatility and Range Play
Type Long Short Net
Index Futures 39,683 36,519 +3,164 → neutral to mildly positive
Index Option Writers:
Call Shorts: 1,084,623
Put Shorts: 954,660
Indicates selling volatility, expecting consolidation
🔸 Inference:
Pros are writing calls & puts aggressively, which suggests:
Expectation of range bound expiry
Resistance near current levels (due to high call writing)
📌 4. Summary Table – Total Market Positioning
Participant Total Longs Total Shorts Net Position
DII 369,586 4,584,513 –4,214,927
FII 5,765,667 4,646,548 +1,119,119 (driven by stock longs, not index)
PRO 5,318,149 4,605,735 +712,414
🧮 Market-Wide Total:
Longs: 11,453,402
Shorts: 13,836,796
Net Short Bias: –2.38 million contracts
📈 Nifty 50 Technical Outlook: June 25–26, 2025
Bias: 🔻 Mildly Bearish to Consolidation Mode
🧾 Reasons:
FIIs continue heavy Index Futures Shorts → strong directional indicator
PROs and FIIs writing Calls → suggests capped upside near 25,300–25,400
Put Longs > Put Shorts among FIIs → still defensive
DIIs remain long, cushioning deep correction
🧭 Nifty 50 Levels to Watch
Level Type Value Range
Resistance 25,300 – 25,400 (Call writing zone)
Support 24,950 – 25,050 (Put accumulation + DII support)
Range Expectation 24,950 – 25,350 (unless heavy trigger emerges)
✅ Conclusion
The market is currently in a defensive zone with downside risk due to:
FIIs increasing short bets
PROs playing range with upside capped
DIIs acting as short-term stabilizers
📉 Short-term bias: Bearish-to-Rangebound
📈 Trigger for reversal: Short covering or positive macro triggers
Anish Jagdish Parashar
Indirect tax india research
Disclaimer Content reflects personal views of the author and for trading and investment purposes consult your financial advisor.
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