The November derivatives series which ended on Thursday proved to be one of the best-ever for the markets.
The Nifty rose 11.6 per cent, while the Bank Nifty
added 22.8 per cent.
Despite stellar gains, the rollover into the December series for the Nifty were higher than the previous month, an indication that the bulls were still in control.
rollovers, too, were higher than the previous 3-month average. However, open interest was marginally lower.
“The Nifty has major call base at 13,500 strike followed by 13,000 strike, while the put base is placed at the 12,800 strike for the coming weekly expiry. Considering high volatile moves seen during the series, the positive bias may remain intact above 12,800,” said a note by ICICI Direct titled Nifty may continue to consolidate amid high volatility.