Rollover stood at 75.94 percent, which is in-line with its quarterly average of 75.59 percent. The overall data indicate that the longs are still in the system and some more steam left on the upside.
The charts clearly suggest that the short-term trend is still up but an intraday correction can't be ruled out if the index trades below 13,935.
Biocon, IndusInd Bank and HUL among the stocks that experts are betting on for short term
Rollover data clearly indicates that the banking index is very light on positions and fresh build-up in coming days will decide the further trend in the banking index.
According to Nitin Jain, the way indicators are moving in the market today, suggests that not much will happen at headline level. So, Nifty is likely to close in the range of 6,275-6,325 today.
Hemant Thukral of Aditya Birla Money does not expect a big rally today. “Since majority of the rollovers are in place and the short covering has already been taken place, I do not expect big rally today.