Nifty futures sees rollover of 72%

Our Bureau Chennai | Updated on March 25, 2021

Nifty futures witnessed a strong rollover of open interests to the April series at 72 per cent, which is higher than the three-month average of 54 per cent. Higher rollovers along with a negative market movement indicates that shorts are being carried to the next series.

Bank Nifty saw a rollover of 82 per cent, which is slightly lower than the three-month average of 84 per cent.

Nifty loses bullish momentum

“Nifty index failed to continue its bullish momentum of the last series and settled the March series with a loss of 5.12 per cent at 14324 levels. During the series, it made a high at 15336 level but sustained supply pressure was seen near the 15300 zones which took the index below 14350 zones,” said Chandan Taparia, Derivative & Technical Analyst, Motilal Oswal Financial Services.

India VIX closed the series on a flattish note as expiry-to-expiry based volatility was marginally down by 0.84 per cent at 22.69. India VIX made a high of 29.64 marks in this series. Volatility is not giving any clues as despite a decline of 1,000 points, VIX has remained flattish, said Taparia. On the options front, maximum Put open interest is seen at the 14,000 strike followed by the 13,500 strike. At the same time, maximum Call open interest is seen at the 15,000 strike followed by the 16,000 strike. Option data suggests an immediate trading range between 14,000 to 14,800 zones, added Taparia.

From a sectoral point, the Nifty FMCG closed on a flattish note while profit booking was seen in Autos, PSU Banks, Energy, Metal, Pharma and Financial sectors. Strong rollover was seen seen in InterGlobe Aviation, Page Industries, UPL, Jubilant Foods and Bajaj Finance while SAIL, Lupin, Godrej Properties, Glenmark and Cadila Healthcare saw relatively low rollovers.

Published on March 25, 2021

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