Market Snapshot for August Series – Gained ~101 points in August series
August series has been very sub-duded on account of markets trading in a narrow range between 5,350-5,450 However, during the last week it broke its narrow range and crucial level 5,500 and hit a 30-month high. In current month series, Nifty has gained 101 point or 1.88% to 5,510.
This would be consecutive third series for the market to close in a positive zone.
Rollover– Positive Rollover cost of ~20bps in September series
Nifty OI currently stands at ` 229 bn which is 16% (OI of ` 198 bn) more than D-2 of July expiry. ~42% of the total positions have been rolled into September series till date, which is slightly lower as compared to D-2 of last expiry (45%).
Market wide futures OI is currently ` 805 bn, which is 17% higher than the (OI of ` 687) D-2 of July expiry. Increase in volatility to be observed going forward. We recommend traders having naked long / short positions to be cautious.
| Particulars | Rollover | Chg |
| Current Month | 42.2% | |
| 3 month Avg | 43.4% | -119 bps |
| 6 month Avg | 42.8% | -62 bps |
Source: NSE India
Sector-wise Rollovers
Highest long Roll: Bullish Signal
REALTY (56.2%), FINANCE (53.8%), SUGAR (52.1%),
Highest Short Roll: Bearish Signal
POWER (42.2%)
Lowest Rollover
HOTELS (33.5%), FERTILIZER (38.6%) , PHARMA (40%)
Stocks Rollovers
Highest long Roll: Bullish Signal
BHARATFORG (68.3%), INDIACEM (64.2%), GTLINFRA (63.8%)
Highest Short Roll: Bearish Signal
ADANIENT (65.6%), IOC (63.2%), PATNI (62.8%)
Lowest Rollover
APIL (18.4%), PFC (18.3%), DIVISLAB (18%)
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