Reuters Market Eye - Strong rollovers of short positions in Nifty futures point to weakness next month, derivative analysts say.
Rollovers of Nifty futures reached about 72 percent, similar to average rollovers of 71 percent in the last three months, although this time they were dominated by short positions, NSE data shows.
"Strong rollover into the February series indicates possibility of continued selling pressure for the early part of the series," said Sahaj Agrawal, deputy vice president- derivatives research, Kotak Securities.
Dealers say the spot NSE index's medium-term trend is downwards after it breached its 100-day moving average of 6,100 on Thursday for the first time since October.
The 6,100 level had served as an important resistance in January and July 2013.
(Reporting by Abhishek Vishnoi)