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Moneycontrol India :: News :: TTML adds 54 lakh shares in April series :: :: F&O Cues :: Nifty,PNB,Anichya Shah
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TTML adds 54 lakh shares in April series
2008-03-26 17:08:18 Source : moneycontrol.com
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CNBC-TV18's Research Analyst, Anichya Shah has given F&O highlights : We are chugging along pretty slowly, no major rollover picking up in today’s trade. If you look at the rollovers in general, we usually start today’s trading session with market wide rollovers at about 43% and Nifty rollovers at about 50%. Midway through the day crossed that market wide rollover of about 45%. Nifty is still pretty low at about 41% usually by the day end today we should see about 60% of Nifty positions has been rolled over and considering that even open interest in value terms and number of contracts is lower than the last few expiries overall rollovers remain pretty low and subdued.

On Nifty not major aggression either on the long side or the short side today that base is April being at a premium high has existed since yesterday so today it has been pretty quiet. Rollovers were very strong in yesterday’s trading session and the day before but today it has been relatively quite some bit of longer rollovers have kept the April series in a premium.

From the stocks that have seen the maximum rollover, Jindal Stainless has stood out in today’s trading session. 76% of its position is being rolled over, net addition of about 4 lakh shares and it is holding a good 1% cost of carry in the April series. This stock is looking pretty strong.

The entire PSU Banking space has shot up in today’s trading session in terms of rollover. PNB has rolled over about 72%, 1.3 lakh shares have been added net and it is holding a pretty good cost of carry of about 4 points on a Rs 500 stock.

PFC, which has seen a fair bit of short covering over the last few trading sessions has added some bit of fresh long positions in the April series looking strong and rollovers have picked up to 61%.

RPL has seen pretty consistent rollovers from the entire Reliance pack, one of the strongest rollovers there of 51% and net addition of about 48 lakh shares and it is good to see a pretty strong cost of carry in the April series, close to about 1% as we speak.

TTML from the momentum boys has seen a fair bit of rollover picking up in today’s trading sessions. 54 lakh shares have been added in the April series and it shed only about 1-lakh shares in the March series. Good rollovers at about 50% and again inching into pretty healthy cost of carry.

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