VIEW POINT: BUFFET ACTION FAILS TO CHEER
With the bail out plan in the US yet to be crystallised, the Indian markets have the luxury of ploughing a furrow of their own on the September derivatives expiry day. Going by the kind of call and put writing that has happened during the course of the last few days suggests that the Nifty may be headed for settlement between the 4100 and the 4200 mark. That is where the Nifty had closed yesterday.
Over all the rollover is less. Not a bad development. Since the OI is the second highest after January 2008, the lower the carry over in the next month, less of a problem next month. I see that as healthy. Since the cost of carry is high, there is no need to carry over your longs. Telecom, Oil and Gas and Autos have generally seen lower rollovers. That may put these sectors under some pressure today.
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ekamber
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