By Moneycontrol News Dec 29, 2019 5:46:16 PM IST (Published)
Nifty is starting the new series with a multi-year low Open Interest of 1.23 crore shares. With such a low Open Interest, we have seen in the past it is difficult for the market to go down.
The Nifty, much like in the November series, also started on a flattish note for December expiry and was in a consolidation phase throughout the month.
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In December expiry, the Nifty series closed with a minuscule gain of around 0.08 percent, while the Bank Nifty also closed on an absolute flattish note on the other side with a gain of just 0.05 percent.
The rollover in the Nifty was a bit on the lower side at 71 percent as compared to the last three-month-average of 78 percent, and is now starting the new expiry at a multi-year low Open Interest with just 1.23 crore shares. While the rollover in the Bank Nifty was on the higher side at 78 percent versus a three-month average of 64 percent.