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January F&O series begins with 79% rollover from December series

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Dalal Street began the January futures & options (series) on Friday. The Nifty50 ended the December F&O series with a loss of 332.3 points or 1.9 percent -- the biggest fall in a monthly series since March 2021.

January F&O series begins with 79% rollover from December series
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.
MonthRollovers (%)OI at start of series (crore shares)
January791.04
December831.05
November821.04
October751.17
September841.24
August830.88
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:
  • Omicron concerns; return of restrictions
  • Sustained FII selloff
  • Nifty IT at highs
  • 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:
    SeriesNifty change (absolute)Change (%)
    Jan-20-90.8-0.7
    Jan-19-51.2-0.5
    Jan-18591.85.6
    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:
    SeriesNifty change (absolute)
    Dec-21-332
    Nov-21-321
    Oct-21239
    Sept-21981
    Aug-21859
    Jul-21-12
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