Bloomberg data showed the 20-day rolling average of net long contracts on the Nifty futures dropped to a multi-month low of 40,314 in the first half of February 2023, while their net short contracts climbed to 105,943-the highest since November 2022. Long-term average of net long contracts on a 20-day rolling basis is around 69,741 lakh contracts and it has been consistently coming down since December 2022.

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