Nifty bulls are entering the October derivatives series with the benchmark facing a rare combination of technical damage, heavy foreign selling and bearish futures positioning. The index has just recorded its worst September derivatives series in 25 years, while FIIs have posted their biggest monthly outflow in six months.
At the same time, rollover data indicate that bearish positions have been carried into the new series, leaving Nifty perched near a long-term support zone last tested during the Covid crash.
