Angel Broking has come out with its monthly rollover report on Banking and Financials, Metal & Mining, Oil & Gas, Auto & Auto Ancillaries, Information Technology and FMCG.
After significant fall in August series, a moderate gain of 3.41% in NIFTY (61.19%) was big relief to the market but within the range of 4750-5150 huge swings were witnessed. Rollover both in terms of percentage and number of shares wise is less in Nifty; however in BANKNIFTY (76.57%) rollover has been substantially high on both fronts. This index has not witnessed much of short covering even during the bounces in market as well as in this index itself in the series gone by. On the options front it can be observed from puts built up that support zone of 4700-4800 may be intact atleast for first half of October series. Interestingly call built-up is prominent only in 5200 strike. Also strikes above it have seen substantiall addition in OI. Starting a new series with high implied volatility of 30.22% also supports the argument that market may see increased volatility in above range for the first half without violating the range meaningfully. Banking and FinancialsDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
