Market Snapshot for August Series – Gained ~22 points in November series
November series has been volatile, where Nifty after hitting a 34 month high at 6,336 gave a fall of 472 points i.e. down 7.5% thereby breaking all support levels. During the November series, FII were net buyers in 11 trading sessions out of 16 trading sessions.
We expect 6,000 to act as a support on the downside on account of more of put concentration than call and on the upside 6,100 to act as a stiff resistance on basis of more call concentration than puts. However, on basis on concentration the range for November expiry is 6,200 on the upside and 5,900 on the downside.
Rollover– Positive Rollover cost of ~50bps in November series
Nifty has rolled 32% positions into December series, which higher as compared to D-3 of last expiry (29%). Nifty holds an OI of 586,234 contracts which is 6% (625,731 contracts) lower than D-3 of October expiry. In value terms, Nifty OI is `176 bn, which is lower by 8% (OI of ` 192 bn) than of October expiry. Around 69,557 contracts got rolled whereas the total OI added by 4,877 contracts.
Market wide futures OI is currently ` 681 bn, which is 11% lower than the (OI of ` 769) D-3 of October expiry. Market wide rolls is 31% which is at par compared to D-3 of last expiry (32%).
Sector-wise Rollovers
Highest long Roll: Bullish Signal
SUGAR (39.9%), CEMENT (36%), POWER (36%),
Highest Short Roll: Bearish Signal
Lowest Rollover
PHARMA (24.6%), TELECOM (24%) , MEDIA (21%)
Stocks Rollovers
Highest long Roll: Bullish Signal
GTL (67%), MCLEODRUSS (55.8%), CAIRN (52.4%)
Highest Short Roll: Bearish Signal
SCI (45.5%), RELCAPITAL (40%), HEROHONDA (39%)
Lowest Rollover
CONCOR (4%), BEL (4.4%), ASIANPAINT (4.6%)
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
No comments:
Post a Comment