Traders' rollover of bearish F&O bets hints at a gloomy December


Mumbai: Commercial promoting breast betting on the band from December when the recent market has no control within the continuous trade with foreign investors, inflation, debt repayment India’s economic downturn and worsening economic growth in the US Federal Reserve.

Nifty rollovers in the short term stood at 82.57%, in line with the three-month average of 82.31%, analysts said. The November futures and options Contractors expired Thursday.

“Rollovers has a short side and the positions are close to short. The market is very low and the current situation is shallow,” said Siddarth Bhamre, director-alternative Investments and research at InCred Equities. “Until Nifty is no more than 17,800 I can’t tell you to extend the length of time.”

The Nifty fell 1.8% on the November list and Sensex dropped 2% immediately.

The Nifty had hit a record 18,604.45 on October 19 and Sensex hit a regular average of 62,245.43 on the same day.

In the midst of the end of the November series Thursday, stock markets regained their lost position after a difficult trip over the past few days. The Nifty finished 131.05 points, or 0.75%, at 17,546.10 and Sensex finished 454.10 points, or 0.78%, at 58,795.09. A 6% increase in Reliance Industries contributed to significant gains in indices.

FPIs sold 2,300.65 crore local shares and DIIs bought ₹ 1,367.8 crore.

“FPI’s performance is not bad for the exit in the last two or three quarters, but the previous position is still the same.

Researchers see the $ 17,200 level as Nifty’s key support as a fall that could open the door to new sales.

“When we enter the December list, we expect the index to sell between 17,200 to 17,800. A return to 17,200 has not been eliminated,” said Sriram Velayudhan, vice president – another research at IIFL Securities. “17,800 have been strongly opposed to key issues such as neck and shoulder fractures and the 34-day interval that goes hand in hand with this. Unless the required level is broken up, a high point can be opened,” Sriram said.

Rajesh Palviya, head of technology and development at Axis Securities, also said that Nifty should move into the 17,200-17,800 category for the December list.

“Breaking both sides will determine how the market works. The real estate companies, telecom and textiles are expected to do very well in December,” Palviya said.


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