Roll Over Snapshot
Total Roll Overs at 75% & Nifty Roll Overs at 73%
April, 2009
Nifty continues the momentum for the month of April after an early hiccup. The straight rally took Nifty to 3500 upwards
mid month. During consolidation later on, Nifty posted the high at 3517 and closed the month nearby at 3474. April series
ended with Stock roll over of 75% against (6-m avg. 77%) and Nifty roll over at 73 % (6-m avg. 67%). April began with
Roll Over Update
Rs421bn* in exposure, increments in the index brought with it more longs leading stock futures above a billion mark in
first few sessions. Although the rollovers in stock futures was lower than average, May series begins with highest stock
futures open positions of over 908 million shares and total exposure of Rs492bn* in last six months. On the other hand
higher rollovers have left Nifty to open with 37mn shares once again.
*OI does not include LEAPS
Sectorwise Roll Overs
Sector
Roll Overs
Current
6-m Avg.
80.63
76.28
77.97
73.47
77.47
80.06
77.78
75.73
76.38
75.03
76.41
66.86
83.63
80.97
81.38
70.38
79.92
82.06
79.86
81.83
79.37
76.19
81.54
75.71
75.64
74.83
75.06
74.34
81.41
75.86
77.83
87.31
Among sectors FMCG, Telecom and Technology witnessed
rollovers above 6 month average whereas, Banking & Fi-
nance, Engineering, Infra and Realty saw rollovers less than
6 month average.
Sectors viz. Engineering, Realty and Textile had below mar-
ket wide rollovers..
Auto
Banking & fin
Cement
Engineering
Fertilizer
FMCG
Infra
Metal
Oil & Gas
Pharma
Power
Realty
Sugar
Technology
Telecom
Textile
Motilal Oswal Securities Ltd.,Palm
Spring Centre, 2nd floor, Palm Court Complex, New Link Road, Malad (W), Mumbai - 64.

Roll Over Snapshot
Average Roll Overs
Underlying
JSWSTEEL
PFC
INDIAINFO
JINDALSTEL
LUPIN
UNITECH
ALBK
ICICIBANK
UNIONBANK
54.71
58.82
39.22
50.00
59.99
62.90
52.75
66.57
62.99
62.00
Below Average
Current
6-m avg
85.20
86.52
66.26
76.94
82.96
82.10
71.67
85.42
79.04
77.61
CAIRN
HDFCBANK
BPCL
ONGC
TCS
ACC
CHAMBLFERT
BANKINDIA
WIPRO
ITC
Underlying
84.93
85.86
79.17
70.21
81.55
83.77
77.12
84.09
76.40
82.35
April, 2009
Above Average
Current
6-m avg
70.26
74.17
67.76
59.07
70.48
72.83
66.38
74.87
67.53
74.06
Roll Over Update
IDFC
Key Takeaway:
Key Takeaway:
§ Nifty futures rolled higher on a lower base to start with heavy participation. Consistent positive rollover cost towards the
end and the heavy terminal exposure indicates comfort to roll the longs forward.
§ Among sectors decent longs created through the month in Technology rolled at a higher pace with positive basis
indicating higher expectation. On the other hand Banking did not carry forward as much longs.
§ Nifty starts with May OIPCR of 1.34 with rather flat Skew which assumes pace will be equally fast even in the up move.
First hurdles are at 3500 & 3300 on either side induced by options.
Highest Roll Overs
SYMBOL
BALRAMCHIN
INFOSYSTCH
RCOM
WELGUJ
GMRINFRA
HDFCBANK
M&M
ORIENTBANK
CAIRN
HEROHONDA
DLF
Open
Interest
13305600
6674400
21012600
5571200
13050000
3754000
2944032
1552800
12302500
2072800
19241600
Roll Over
%
88.85
88.57
87.02
86.83
86.11
85.86
85.81
85.58
84.93
84.67
84.51
Roll Over
Cost (bps)
79
53
-84
202
-351
38
-118
55
69
-18
-329
Lowest Roll Overs
SYMBOL
PFC
INDIAINFO
UNITECH
BRFL
JSWSTEEL
IDFC
JINDALSTEL
UNIONBANK
CANBK
LUPIN
ICICIBANK
Open
Interest
842400
1160000
33327000
368000
1437150
9227600
389120
1117200
944000
327600
14108500
Roll Over
%
39.22
50.00
52.75
53.69
54.71
58.82
59.99
62.00
62.83
62.90
62.99
Roll Over
Cost (bps)
103
8
-141
9
-190
154
47
-58
120
-117
76
Motilal Oswal Securities Ltd.,Palm
Spring Centre, 2nd floor, Palm Court Complex, New Link Road, Malad (W), Mumbai - 64.

Roll Over Snapshot
Nifty Options
Expiry
Calls
STRIKE
3400
3500
MAY
3600
3800
3700
Open Interest
2973700
2141950
2009850
1735900
1057450
STRIKE
3400
3100
3300
2800
3200
Puts
April, 2009
Open Interest
3095800
2335600
2294800
2280450
2233250
Roll Over Update
Scripwise Roll Overs
Symbol
3IINFOTECH
ABAN
ABB
ABIRLANUVO
ACC
ADLABSFILM
ALBK
ALOKTEXT
AMBUJACEM
AMTEKAUTO
ANDHRABANK
APIL
APTECHT
ARVIND
ASHOKLEY
AUROPHARMA
AXISBANK
BAJAJ-AUTO
BAJAJHIND
BALAJITELE
BALLARPUR
BALRAMCHIN
BANKBARODA
BANKINDIA
Open Interest
MAY MoM (%)
%
3888000
1569200
1289500
60000
1176128
1643400
2263800
6235488
422400
299000
283200
1111500
5177200
5309800
442400
5784300
20000
6788700
155000
3898200
28.6
28.0
12.1
38.9
-44.2
91.0
-41.7
-15.1
17.3
-5.8
12.9
19.7
-8.2
-8.6
23.4
0.5
-32.4
28.6
34.8
61.8
89.8
85.9
74.1
63.3
83.8
72.9
66.6
74.7
76.0
64.2
65.7
76.4
75.0
56.9
76.4
82.7
83.2
39.1
80.4
26.1
68.8
88.8
67.5
84.1
Roll Over Cost
6-m avg. (bps)
83.2
86.4
76.1
61.7
72.8
86.1
85.4
88.0
71.1
74.8
63.0
75.5
86.8
85.0
79.3
83.6
85.7
50.3
83.0
51.4
72.6
84.2
70.3
74.9
62
-190
-119
96
-42
175
64
-603
11
19
7
197
61
38
140
69
-182
-45
117
196
106
79
-203
-89
Symbol
BATAINDIA
BEL
BEML
BHARATFORG
BHARTIARTL
BHEL
BHUSANSTL
BIOCON
BIRLACORPN
BOMDYEING
BOSCHLTD
BPCL
BRFL
CAIRN
CANBK
CENTRALBK
CENTURYTEX
CESC
CHAMBLFERT
CHENNPETRO
CIPLA
COLPAL
CORPBANK
CROMPGREAV
Open Interest
MAY MoM (%)
%
273000
29256
40500
1848000
6819500
1976100
61000
190800
180200
327600
1600
1329900
368000
944000
504000
2233632
225500
7162200
457200
2561250
33000
34800
106000
30.0
32.5
-31.6
-46.7
-19.1
-20.4
69.4
29.3
-63.7
-56.4
220.0
22.2
-71.0
16.4
-67.2
-41.9
76.7
26.4
5.0
19.3
0.0
11.5
-86.8
78.3
68.8
76.1
89.4
75.3
67.7
68.5
65.4
44.9
66.7
94.1
79.2
53.7
84.9
62.8
66.3
86.5
73.2
77.1
78.9
72.9
68.2
56.9
54.6
Roll Over Cost
6-m avg. (bps)
80.1
65.3
68.4
84.5
72.5
77.3
66.2
70.2
76.5
79.5
60.4
67.8
65.3
70.3
65.4
86.9
88.6
74.3
66.4
76.0
69.2
71.0
63.9
71.7
23
94
169
136
8
49
103
85
76
75
45
73
9
69
120
56
88
19
92
86
53
-38
49
100
15993744 157.9
12302500 60.9
13305600 172.8
2291800 122.7
3288900 151.1
Motilal Oswal Securities Ltd.,Palm
Spring Centre, 2nd floor, Palm Court Complex, New Link Road, Malad (W), Mumbai - 64.

Roll Over Snapshot
Scripwise Roll Overs
Symbol
CUMMINSIND
DABUR
DCHL
DENABANK
DISHTV
DIVISLAB
DLF
DRREDDY
EDELWEISS
EDUCOMP
EKC
ESCORTS
ESSAROIL
EVERONN
FEDERALBNK
FINANTECH
FSL
GAIL
GDL
GESHIP
GITANJALI
GLAXO
GMRINFRA
GNFC
GRASIM
GSPL
GTL
GTLINFRA
GTOFFSHORE
GUJALKALI
GVKPIL
HAVELLS
HCC
HCL-INSYS
Open Interest
MAY MoM (%)
%
22800
348300
-45.5
69.7
-25.5
-3.7
4.3
-33.3
12.4
11.3
-56.2
28.0
77.7
-74.0
111.6
-22.2
7.6
-7.8
28.7
-71.4
-29.5
-9.9
-18.7
11.3
124.5
-10.6
-87.5
4.1
-25.0
33.3
49.6
71.2
89.7
76.9
76.1
58.3
84.5
75.4
80.1
70.9
78.0
67.9
75.0
75.9
47.2
69.1
75.6
76.0
72.8
68.3
87.4
53.3
86.1
65.6
72.8
75.6
95.2
82.9
81.0
79.5
70.3
25.0
82.5
60.0
Roll Over Cost
6-m avg. (bps)
79.2
73.5
77.1
72.2
81.8
71.4
73.1
78.0
76.4
74.3
73.2
71.2
76.5
85.7
65.6
87.8
81.0
78.3
68.3
73.3
70.2
76.6
54.8
80.2
75.2
77.1
70.0
95.0
72.6
82.6
76.9
72.8
69.0
91.3
41.5
99
50
125
121
5
219
50
-329
35
46
-182
143
91
-130
64
102
63
63
68
8
-14
110
69
-351
53
-27
80
56
50
104
76
110
70
48
219
Symbol
HCLTECH
HDFC
HDFCBANK
HDIL
HEROHONDA
HINDALCO
HINDOILEXP
HINDPETRO
HINDUNILVR
HINDZINC
HOTELEELA
IBREALEST
ICICIBANK
ICSA
IDBI
IDEA
IDFC
IFCI
INDHOTEL
INDIACEM
INDIAINFO
INDIANB
INDUSINDBK
INFOSYSTCH
IOB
IOC
IRB
ISPATIND
ITC
IVRCLINFRA
JETAIRWAYS
JINDALSAW
JINDALSTEEL
JPASSOCIAT
JPHYDRO
Open Interest
MAY MoM (%)
%
2150200
1578450
3754000
5448960
2072800
832000
1227200
9635000
31000
1650000
6544200
14108500
662400
4828800
9227600
1359684
4698000
1160000
519200
1386000
6674400
2017800
710400
-22.3
-26.1
10.6
-14.2
-12.9
26.2
25.9
1.4
-6.1
37.5
19.3
6.7
232.5
-1.2
-25.6
-31.4
-17.8
13.7
62.8
11.8
18.8
-47.5
24.8
75.4
76.6
85.9
79.6
84.7
74.2
81.3
75.7
77.6
79.5
71.9
76.3
63.0
84.1
80.8
81.0
58.8
85.9
65.3
77.8
50.0
74.7
77.3
88.6
65.3
77.4
75.9
82.3
77.2
70.6
76.9
60.0
69.1
78.6
April, 2009
Roll Over Cost
6-m avg. (bps)
68.0
74.4
74.2
75.0
84.7
72.3
83.7
78.3
79.6
73.9
78.7
76.3
79.0
76.5
84.5
77.3
86.5
84.9
80.4
90.6
76.9
69.5
79.3
81.0
82.6
81.7
51.1
79.9
74.1
81.3
77.8
69.7
83.0
82.7
83.4
95
42
38
66
-18
56
56
33
64
39
69
98
76
209
85
31
154
98
63
23
8
37
56
53
-283
-228
55
69
59
28
56
107
47
78
88
Roll Over Update
DCB
3430000
2446500
247690
526400
109000
726600
64000
4908112
146400
102120
240000
4997000
4500000
424800
556000
2400
731600
591712
3546000
8953100
247000
1041600
2400
7812000
10200
4848400 465.9
12380600 461.7
19241600 -21.6
17013048 27.5
2678400 123.2
18522000 -19.0
36610480 30.3
2540000 543.0
13050000 -11.8
1854400 270.7
2477200 1421.6
72.5
20418000 19.7
15399000
1100000
328800
488000
389120
14859000
6562500
-0.9
-9.5
-59.7
97.6
-56.9
-4.0
48.3
10811000 -24.0
Motilal Oswal Securities Ltd.,Palm
Spring Centre, 2nd floor, Palm Court Complex, New Link Road, Malad (W), Mumbai - 64.

Roll Over Snapshot
Scripwise Roll Overs
Symbol
JSL
JSWSTEEL
KFA
KOTAKBANK
KSOILS
KTKBANK
LICHSGFIN
LITL
LT
LUPIN
M&M
MAHLIFE
MAHSEAMLES
MARUTI
MCDOWELL-N
MINDTREE
MLL
MOSERBAER
MPHASIS
MRPL
MTNL
NAGARCONST
NAGARFERT
NATIONALUM
NBVENTURES
NDTV
NETWORK18
NEYVELILIG
NIITLTD
NOIDATOLL
NTPC
OFSS
ONGC
OPTOCIRCUI
KESORAMIND
Open Interest
MAY MoM (%)
%
1080000
842000
1662100
5233300
170000
736100
4128400
327600
2944032
2800
184800
3355200
1078250
60000
4900000
2970000
1040000
1477400
4211200
1052000
2603600
185600
339900
352000
1734600
1966200
1197200
24633375
187200
5444100
-41.3
-36.1
-0.5
-6.9
-36.9
30.8
35.7
-13.9
-1.1
-13.8
-84.6
-15.4
-23.1
-30.4
56.3
34.4
97.4
14.2
84.4
-14.3
42.9
5.4
9.4
-55.4
-33.3
40.7
-15.4
52.1
3.7
-29.4
4.3
60.0
54.7
97.7
80.8
83.0
76.9
54.8
64.8
67.1
82.3
62.9
85.8
18.2
68.1
83.6
76.4
51.5
84.9
74.3
91.0
67.2
82.0
78.7
78.3
75.6
71.6
61.3
63.8
72.6
72.7
49.7
75.0
83.0
70.2
79.9
Roll Over Cost
6-m avg. (bps)
88.6
85.2
90.6
79.7
85.0
74.8
72.7
74.8
69.3
84.2
82.1
77.5
63.9
71.6
78.6
79.1
58.8
78.8
74.6
86.7
76.4
85.6
82.6
85.1
68.6
63.5
84.6
91.9
73.3
74.2
74.4
70.8
90.6
59.1
71.2
248
-190
76
64
66
71
20
-289
73
48
-117
-118
86
36
-28
16
-145
102
90
73
111
47
107
104
-8
133
95
96
82
71
33
26
92
68
73
Symbol
ORCHIDCHEM
ORIENTBANK
PANTALOONR
PATELENG
PATNI
PENINLAND
PETRONET
PFC
PNB
POLARIS
POWERGRID
PRAJIND
PUNJLLOYD
RAJESHEXPO
RANBAXY
RCOM
RECLTD
RELCAPITAL
RELIANCE
RELINFRA
RENUKA
RIIL
RNRL
ROLTA
RPL
RPOWER
SAIL
SBIN
SCI
SESAGOA
SIEMENS
SINTEX
SKUMARSYNF
SREINTFIN
SRF
Open Interest
MAY MoM (%)
%
1558200 176.9
1552800
705500
184000
208000
66000
3344000
842400
1576200
1176000
18218200
4615600
4528500
1890900
3444800
273000
5837400
6289500
5310792
3945000
162400
3454200
20535500
19197000
3527040
6690000
1428800
53200
8550000
1185000
24.4
81.2
-11.5
128.6
-66.7
29.3
160.0
-8.1
-36.4
-2.2
25.3
-27.8
6.7
-26.9
-5.4
-12.0
-23.4
13.9
-6.6
290.4
24.4
9.8
3.6
-17.1
7.9
49.6
-72.7
60.6
54.3
72.3
85.6
78.9
69.2
81.6
22.2
81.2
39.2
74.3
76.4
77.6
88.3
78.2
80.9
78.8
87.0
46.7
80.5
65.6
82.4
74.2
54.7
76.4
74.1
76.9
78.9
74.5
72.6
76.2
81.9
75.0
51.4
90.5
83.5
75.1
April, 2009
Roll Over Cost
6-m avg. (bps)
81.4
84.0
70.2
74.3
76.8
71.8
84.4
66.3
76.9
79.9
73.4
85.7
80.6
89.7
75.2
80.1
79.3
86.2
72.8
77.4
68.9
75.1
80.4
74.6
77.4
79.7
70.4
75.9
73.9
76.6
70.5
94.4
82.6
63.1
87.7
55
55
101
74
9
-84
-143
103
-164
85
54
85
55
100
33
-84
84
89
64
74
73
96
84
113
78
-41
24
43
82
-12
81
177
93
101
251
1437150
Roll Over Update
5210500 202.0
1257150 202.5
21012600 23.6
26712720 32.9
18249000 70.4
21774000 41.1
1857600 182.5
1309000 103.3
1362720 363.9
Motilal Oswal Securities Ltd.,Palm
Spring Centre, 2nd floor, Palm Court Complex, New Link Road, Malad (W), Mumbai - 64.

Roll Over Snapshot
Scripwise Roll Overs
Symbol
STAR
STER
SUNPHARMA
SUNTV
SUZLON
SYNDIBANK
TATACHEM
TATACOMM
TATAMOTORS
TATAPOWER
TATASTEEL
TATATEA
TCS
TECHM
TITAN
TORNTPOWER
TRIVENI
Open Interest
MAY MoM (%)
%
1220600
8448144
832275
88000
619400
353700
1171800
8486400
946800
93500
4746000
494400
371212
68000
1747900
-4.3
-10.3
-61.8
0.1
83.3
-23.8
-3.0
-8.5
-19.3
-8.5
88.9
-3.4
180.3
77.4
100.0
-15.0
76.4
77.4
42.9
77.0
63.8
71.7
56.4
61.2
79.4
78.8
69.9
79.1
57.4
81.6
76.9
79.9
44.4
78.0
Roll Over Cost
6-m avg. (bps)
78.3
79.9
51.0
76.0
59.7
82.4
89.5
65.0
77.0
77.7
69.1
77.4
64.4
70.5
72.1
71.1
57.1
82.2
29
73
-262
68
90
8
31
52
-56
-182
73
-17
147
45
62
66
57
28
Symbol
TTML
TULIP
TV-18
TVSMOTOR
UCOBANK
ULTRACEMCO
UNIONBANK
UNIPHOS
UNITECH
UTVSOF
VIJAYABANK
VOLTAS
WELGUJ
WIPRO
WOCKPHARMA
YESBANK
ZEEL
Open Interest
MAY MoM (%)
%
13825350 -38.2
3000
924800
2065000
1650000
774400
1117200
39200
37200
4022700
1193400
5571200
4257600
727200
2279200
2774800
-25.0
-32.3
-53.2
-15.4
-26.8
19.0
250.0
72.2
17.8
17.6
-4.2
4.2
99.3
-9.3
-23.8
72.7
42.9
85.0
83.3
74.7
76.2
62.0
45.2
52.7
47.0
82.0
71.8
86.8
76.4
71.5
73.4
79.4
April, 2009
Roll Over Cost
6-m avg. (bps)
71.1
27.6
93.2
91.6
87.0
87.1
77.6
61.2
71.7
60.4
84.2
89.1
83.9
67.5
83.8
78.8
73.9
-104
-104
113
122
88
29
-58
66
-141
122
65
114
202
48
-266
94
79
Roll Over Update
STERLINBIO
386250
26124000 -17.6
33327000 -40.1
12633504 13.3
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