Check out what the rollover position and trading ideas for key frontline stocks ahead of the F&O expiry today with Chandan Taparia, derivative analyst, Anand Rathi Financial Services.
Smartinvestor : How are the markets looking ahead of the F&O expiry today? Can you highlight any key trends (stocks / indices) from the trades thus far?
Chandan Taparia : Nifty August series expired at around 5315 levels and we saw strong move in September series by more than 7% with addition of fresh long position. Nifty future has been facing strong hurdle at around 5700 levels, if it sustains above 5700 levels then only this rally may continue in the market. Nifty future has seen rollover of more than 55% with decline roll cost which indicates that longs are unwinding or booking profit of their position.
Smartinvestor : Which counters have seen a healthy / above average rollover till now?
Chandan Taparia : Stock-wise, we have seen better rolls in Mcleod Russel, Aurobindo Pharma, Mcdowell, Kotak Mahindra Bank and JSW Steel
Smartinvestor : What about ITC and HUL from the FMCG space?
Chandan Taparia : ITC is down by 2.5% in this series with fresh built of short position. It has seen Rolls of 61% which is almost in line with the past couple of expiries. It has support at around 250 levels while upside strong hurdle seen at 270-272 levels.
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