F&O watch: Bulls slowly losing grip; Nifty50 likely to head lower

Nifty futures are likely to trade in a band of 9,250-9,550 in the June F&O series, experts say

Even as the market zoomed to record high in May series, the rollover positions indicate bulls are slowly losing grip as investors rolled over fewer positions to the June series. While highest call concentration in Nifty50 June futures are at 9,600 strike, put at strike 9,000 has highest open interest, with analysts seeing a broad 9,250-9,600 range for the index in the June series. As the fear gauge India VIX is looking up, they do not rule out any short term correction.  

So far till Tuesday, the rollover percentage of Nifty50 in the May series came in at 39% as