Angel Broking: Derivatives Rollover Report - September-October 2020
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Angel Broking Report
Nifty started the September series on an optimistic note around the 11,600 mark.
However, the markets failed to carry the optimism for much longer and the correction in global markets led to a decline in our markets too.
Post a corrective move upto 11,185, Nifty pulled back higher towards 11,600, but it sold off sharply from there at the end of the series and concluded at the lowest point at 10,800, with a loss of about six and a half percent.
During the series, we saw long unwinding in Nifty, but the banking index witnessed short formation which led to its underperformance and it registered a loss of over 13%.
The rollover in Nifty is at 70.6% which is lower than its average of 76%, while rollover in Bank Nifty is at 79% versus its average of 77%.
This indicates that shorts in the banking space have been rolled into the October series.
Foreign institutional investors started the September series with a good amount of long positions, but as the series progressed they unwound their longs and formed shorts too.
Their Long-Short Ratio at the start of the new series is at 44%.
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