Positive beginning for December F&O series

AS THE NIFTY touched its lifetime high after 14 months at the start of the December expiry series, experts see this positive momentum continuing.

- ANANYA GROVER

Osho Krishan, chief manager of technical and derivatives research at Angel One, said December started on a positive note as the Nifty surpassed the crucial 26,000mark, leading traders to cover their short positions. He noted that the long-short ratio has improved from 12% to 19%.

Krishan said most of the forward moves are long additions. The Nifty futures rollovers fell to 69% compared to 81% in the last three series.

According to a Nuvama report, the Nifty futures will start the December series at a lower open interest base of ₹37,700 crore (14.6 million shares), compared to open interest of ₹39,300 crore(15.2 million shares) seen at the start of the November series.