Nifty fell 7 times in past 10 months, will today be different
Nifty50 has rallied by about 5.4 percent so far in November series and is on track to post highest gains since January series when the index rallied about 5.6 percent. But, talking specifically about the expiry day, historical data suggests that bears took control of D-Street in 7 out of the last 10 months.
Last 10 months data of 2018 suggests that Nifty slipped in the red on 7 out of last 10 expiry days. The index saw a cut of 0.98 percent in October, followed by 0.77 percent fall on June expiry day, and 0.69 percent drop seen in September and March.
The Nifty rollover for December series stands at 48.62 percent so far, slightly lower than the 3-month average of 68 percent, ahead of expiry. Market-wide rolls were at 65.54 percent, higher than the 3-month average of 63.67 percent.It may result in some pressure in terms of VWAP in the settlement trade. Bank Nifty open interest is also on the higher side with 1.2 million shares. Roll spread in the banking space has also declined sharply to just 75 points indicating a short rollover.source- www.moneycontrol.com
Among index stocks, Bajaj Auto (79%), Tech Mahindra (78%) and JSW Steel (76%) are witnessing high rolls into the next series, while GAIL (49%), Coal India (54%) and L&T (55%) are seeing relatively low rolls into the December series.
Call On TOLL-FREE Number: 9009010900
Whatsapp User Join Our Group: 9300421111
No comments:
Post a Comment