May 2020 F&O Series Expiry - Mr. Nandish Shah, Technical Research Analyst, HDFC Securities

May series ended with the losses of 3.75%

Nifty gained more than 5% during the last two days of the May series on the back of strong global cues to end the May series with the losses of 3.75%. At one point of time Nifty was down by more than 10%. This fall is on the back of the Massive rise of 14% in the April series, which was a highest gain in a decade.

In the Nifty and Bank Nifty we have witnessed rollover of 66%(Prov) and 71%(Prov) as against last three series average rollover of 69% and 64% respectively.

Outlook for the Next series: Considering the aggressive Put writing at 9000 level for the in the June Options, long build up by the FIIs' in the Index Futures segment during the last few days and lower stock futures Open Interest as compared to average of the last one year-which in-turn Indicates lower leveraged positions, and fall in the VIX-Fear Index, we believe that one should remain optimistic for the June series with the stop loss of 9000 levels.

On the higher side 10000-10200 level to act a resistance where calls have been written.

Source : Equity Bulls

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