Quote on F&O Expiry By Mr. Rahul Gupta, Emkay Global Financial Services
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Below is quote on F&O Expiry By Mr. Rahul Gupta, AVP-Derivative Sales, Institutional Equity, Emkay Global Financial Services
"It has been quite a volatile month for Nifty, wherein Nifty fell to a low of 16,400 at the same time has also seen a high of 17,600. Currently, it looks like Nifty is going to end 1-1.5% up for the month of December. FIIs have sold equities worth almost $2.7 billion in the month of December. This is the 3rd consecutive month wherein FIIs would be the net sellers. Overall, FIIs continue to be the net sellers for the entire year 2021.
Going forward the key technical level to watch out for Nifty would be 17,600; a break of 17600 will ensure a fresh rally and a break of 16800 will ensure a fresh selling in the market. So as of now, Nifty looks to be in a range of 16800-17600. Going forward two important things to watch out for in the market, one is the spread of the new variant Omicron and at the same time how the Fed policy panes out. The Fed has already indicated three rate hikes in 2022. From the expiry perspective, the fair roles should be around 34-35 bps this month.”
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