Nifty futures is less than nifty spot - what does it indicate?

Currently nifty futures is 10,568.00 and spot is 10607.35 - about 40 points difference - what does it indicate?
does it say anything about next weekly or monthly expiry ? does it mean it will be bearish from now onward ?@ksksat @maddy_Des @nithin @Sensibull

On outset a discount futures means traders are bearish. But again this week and next many index stocks like itc, hdfc, tech mahindra etc are going ex dividend. There may be adjustment due to the same. See also how much fii has sold or bought in cash and where maximum put writing is seen

My gut feeling is buy any dip for a rebounce. Any Breakout at 10700 will see huge short covering that will lead the market to 11000
.dont expect it goes down below 10500 .

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Where do I check for FII activity in cash … do you mean this link ?

if yes until now FII is in negative in cash segment but positive in FNO

and since we are talking about nifty futures we should look for monthly expiry correct …I guess so
so I checked monthly expiry and found 10000 PE has highest and next is 9000 and next is 9500

So based on above what is your view …considering all future discount + 10000/9000/95000 PE and

Discount could be due to dividends as well. @siva can you check?

But yeah, generally if futures are at a discount, it means that there is more selling pressure than buying. So yeah, bearish. But that said, just because there is a discount doesn’t mean markets will go down, there have been large upmoves where throughout the rise, Nifty futures was at a discount.

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@nithin @siva can u kindly guide us how to download this fii dii data on daily basis from nse site ? Futures & cash Currently i depend on cnbc or zee business to read these data

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ITC is going ex dividend today, not able to find any other nifty 50 stock giving dividend in this expiry, yeah as you said many might be selling but it doesn’t means markets have to go down. Also last expiry there was around 100 point discount in nifty but markets went up by 10%.

*correction, HDFC on 9th and jsw steel on 6th.

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HDFC is gonna give dividend as well, effective date is 9 Jul I guess.

Right, 9th is ex date.