Highlights of the day:

1. Lower high, low and close and final close not so bad given bad Q3 GDP growth figure at 5.3%.  Maybe govt officials and economists should stop trying to predict the FY09 GDP and instead try to reduce fiscal deficit and get credit flowing again.  But when elections are due in few months there is hardly any incentive to take long term policy actions!
2. The -1.8% decline on NF is a one day aberration since it compares Mar Fut to Feb Fut which expired yesterday
3. Higher volumes on NF means positions built up on first day of new series. There is high discount on NF, I will add this new data row from Mon onwards so it is easy to see how NF discount/premium is changing over 3 days.
4. A minor divergence in C > 50 SMA. Today was higher at 191 than yesterday at 183. It is less than 20% of stocks so all that can be said is that larger stocks are not weakening so much as smaller stocks.
5. Today again DII bought more FII sold. Sure there is new insurance money being invested, but these high figures are not normal for DIIs and while this can continue for few weeks, I doubt if it can be sustained over next 2 months before elections. Will keep watching.

FII Data,————
FII 27-Feb-2009 1824.15 2287.18 -463.03
DII 27-Feb-2009 1181.59 532.33 649.26