Dalal Street began the January futures & options (F&O) series on Friday, a day after the Nifty50 index ended the December series with a loss of 332.3 points or 1.9 percent. That was the biggest fall in a monthly series since March 2021.
The leaner, 30-scrip index Sensex lost 1,000.77 points or 1.7 percent during this month. The Nifty Bank shed 2,301.2 points or 6.2 percent.
Rollovers
The Nifty50's December-January rollovers are at 79 percent as against a three-month average of 80 percent.
The rollovers for Nifty in the December series are marginally lower the three-month average with a higher cost of carry, indicating marginal unwinding of short positions, according to IIFL Securities.
The brokerage expects the 50-scrip index to continue to move in a sideways consolidation in the new series.
| Month | Rollovers (%) | OI at start of series (crore shares) |
| January | 79 | 1.04 |
| December | 83 | 1.05 |
| November | 82 | 1.04 |
| October | 75 | 1.17 |
| September | 84 | 1.24 |
| August | 83 | 0.88 |
Foreign institutional investors' longs are at 99 percent at the beginning of the December series.
Here are some highlights of the December F&O series:
Levels to expect in January series
Yes Securities expects the Nifty50 to trade in a range of 17,600-16,700 with sector churning being key in the range setup. IT stocks are showing relative strength and banking continues to drag, the brokerage said.
Here's how the 50-scrip index has fared in the January series in the past:
| Series | Nifty change (absolute) | Change (%) |
| Jan-20 | -90.8 | -0.7 |
| Jan-19 | -51.2 | -0.5 |
| Jan-18 | 591.8 | 5.6 |
December markets a second straight negative series following three positive series in a row. Here's how the Nifty has fared in the recent series:
| Series | Nifty change (absolute) |
| Dec-21 | -332 |
| Nov-21 | -321 |
| Oct-21 | 239 |
| Sept-21 | 981 |
| Aug-21 | 859 |
| Jul-21 | -12 |
(Edited by : Ajay Vaishnav)
First Published: Dec 31, 2021 12:37 PM IST
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