In its derivatives monthly rollover report, domestic brokerage firm Religare Broking revealed that Nifty 50 closed above 24,400 after volume weighted average price (VWAP)- based buying activity was witnessed throughout the session. Religare highlighted that at 97 per cent, realty sector witnessed the highest rollover in the July series. Whereas at 86 per cent, the media sector witnessed the lowest rollover.
Nifty futures has rolled at around 70 per cent compared to 72 per cent which is slightly higher with respect to the previous series. The Open Interest (OI) for the new contract is lower by around 14 lakhs with respect to the last month contract implying less long positions.
Bank Nifty futures have seen the rollovers of 62 per cent however its expiry is still a week away. Bank Nifty futures have seen an addition of open interest of around five lakh with respect to the last month. This might be because of the higher short positions in Bank Nifty during the July expiry, according to Religare Broking.
The stock gained over 16 per cent in price with OI addition of 67 per cent. Rollovers were at par with respect to the previous series at 87 per cent. On technical front, the stock is also holding above its key MAs with some rise in volumes. Going Forward, we believe it may continue to do well and may heed towards 1,820-1,840 in near term.
2024-07-26T14:43:03Z dg43tfdfdgfd