Sentiment is changing, FIIs could push market rally further, says Chandan Taparia of Motilal Oswal

economictimes.indiatimes.com:

FIIs long-short ratio, this is working well in the Indian market. If I look at the historical data of the last two-and-a-half, three years, then the ratio goes near 10% to 15% on the lower side and on upside it goes till 70-75%. And just a couple of days back, the ratio of FIIs long-short ratio was 12% to 13% and now (12:13), so that clearly indicates that FIIs covered their short positions. So, short covering trigger was there. They built some long position also after a long time. So, somehow it seems that sentiment is changing and that may support the Indian market. As of now, the SIP and the flow from the DIIs were supporting the market and now if FIIs do the short covering, then further leg of rally could be seen, says Chandan Taparia, Motilal Oswal
ET Now: Nearly, it is like a range. Though we hit a lot of records this week, Nifty hit a record, Bank Nifty hit a record for this week, but the range where we started Nifty, we have clearly or closely ended on those points only, 50 odd points of gain only. Is there a sign of exhaustion now? Are we in for a consolidated trade for the coming week? How would you trade from here?

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Chandan Taparia: So, we have noticed that Nifty has been moving in a broader range from last seven trading sessions with support of 23,300. It made a