1. FII Continued to buy in cash Market
2. FII unwound Index Longs and added heavy index shorts.
3. Surprisingly, Nifty future is closed at the discount to its spot value. This is not the usual case when Market is all time high
4. FII Index future long position is at 63%
5. FII added longs in stock futures, which is a bullish sign
v Conclusion: FII created hedge in Index against their long position in cash. Broader Market should outperform the Index according to this data. Next event of Monetory Policy will decide the further move.