F&O data sends upbeat signal: 3 stocks that saw sharp jump in rollovers to April series
NEW DELHI: With just a day to go for March futures & options series to expire, sharp movements have been observed in FPI flow trend, with the institutional category seen buying index and stock futures while selling index options. Analysts noted that the derivatives trend has been positive so far, as traders are rolling over longs to April series.
Till Tuesday, marketwide rollovers stood at 43 per cent, which were in line with average rollovers of 42 per cent seen in the last three series. Nifty50 rollovers, on the other hand, stood at 46 per cent, much higher than the three-month average rollovers of 41 per cent.
“In call options, we hardly saw any strike adding relevant open interest on Tuesday. However, huge amount of unwinding was seen in 9,000-9,100 call options. On the other hand, in put option, 9,050 and 9,100 strikes added good amount of open interest. Highest open interest in March series is placed at 9,200 call and of put option has shifted to 9,000 from 8,800 strike price,” Angel Broking said in a note.
A total of 23,260 Nifty contracts have been rolled over, while another 26,220 contracts were added to the April series.
“Nifty future rollover were higher, but rollovers are less in Bank Nifty futures, which means that short coverings may be seen if the index starts trading at higher levels,” Chandan Taparia, Derivatives & Technical Analyst at Motilal Oswal Securities.
Here are top three stocks identified by Edelweiss Securities that have seen a sharp jump in rollovers:
Bharti Airtel: Bharti’s rollovers jumped to 60 per cent on Tuesday from 22 per cent in the previous session. Total open interest on the counter is currently at 4.96 crore shares, with 1.97 crore shares in the near month series.
“With short rollers being aggressive, roll levels were minus 65 to minus 85 bps (profit to long rollers),” the brokerage said.
Lupin: Rollovers on this counter jumped to 54 per cent, compared with 24 per cent on Monday.
“The counter holds an OI of 1.13 crore shares with near month OI at 51.9 lakh shares. Roll levels during the day (Tuesday) were 25-30 bps (profit to short rollers),” the broking firm said.
Motherson Sumi Systems: Rollovers on this counter picked up to 48 per cent, compared with 10 per cent on Monday. The counter has an open interest of 1.27 crore shares with 66 lakh shares in the near month.
Roll levels for the day dipped to 17 bps (profit to short rollers) from 40 bps on the back of short roll pressure, Edelweiss Securities said in a note.
Till Tuesday, marketwide rollovers stood at 43 per cent, which were in line with average rollovers of 42 per cent seen in the last three series. Nifty50 rollovers, on the other hand, stood at 46 per cent, much higher than the three-month average rollovers of 41 per cent.
“In call options, we hardly saw any strike adding relevant open interest on Tuesday. However, huge amount of unwinding was seen in 9,000-9,100 call options. On the other hand, in put option, 9,050 and 9,100 strikes added good amount of open interest. Highest open interest in March series is placed at 9,200 call and of put option has shifted to 9,000 from 8,800 strike price,” Angel Broking said in a note.
A total of 23,260 Nifty contracts have been rolled over, while another 26,220 contracts were added to the April series.
“Nifty future rollover were higher, but rollovers are less in Bank Nifty futures, which means that short coverings may be seen if the index starts trading at higher levels,” Chandan Taparia, Derivatives & Technical Analyst at Motilal Oswal Securities.
Here are top three stocks identified by Edelweiss Securities that have seen a sharp jump in rollovers:
Bharti Airtel: Bharti’s rollovers jumped to 60 per cent on Tuesday from 22 per cent in the previous session. Total open interest on the counter is currently at 4.96 crore shares, with 1.97 crore shares in the near month series.
“With short rollers being aggressive, roll levels were minus 65 to minus 85 bps (profit to long rollers),” the brokerage said.
Lupin: Rollovers on this counter jumped to 54 per cent, compared with 24 per cent on Monday.
“The counter holds an OI of 1.13 crore shares with near month OI at 51.9 lakh shares. Roll levels during the day (Tuesday) were 25-30 bps (profit to short rollers),” the broking firm said.
Motherson Sumi Systems: Rollovers on this counter picked up to 48 per cent, compared with 10 per cent on Monday. The counter has an open interest of 1.27 crore shares with 66 lakh shares in the near month.
Roll levels for the day dipped to 17 bps (profit to short rollers) from 40 bps on the back of short roll pressure, Edelweiss Securities said in a note.
