FII Derivative Data Analysis for 7 June trade in Nifty Future

Today was the Highest % close by Nifty after Dec 11. Bulls came with a bang as soon as Nifty started trading above 4909 and conformation came above 4924. But was it a short covering rally or were fresh long intitated
1. FII  bought just 8 Contracts of NF ,OI decreased by 4542. So we had an 132 points rally in NF and FII covered shorts in tune of 4542 contracts and no fresh buying Interesting days ahead !!
2. As Nifty Future was up by 132  points and OI has decreased by 4542 contracts means FII have used the rise to cover shorts, still no fresh buying seen.

3. Nifty made a high of 5010 today but..

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