The Nifty index ended the November series with a slight 1% decrease, indicating a subdued market sentiment. However, there has been a notable increase in Nifty futures rollovers to 79.34%, suggesting a change in trader behavior compared to the previous month and surpassing the three- and six-month averages of 77.20% and 75.75% respectively.

This rise indicates that traders are hedging their positions, anticipating a potential turning point despite the prevailing downtrend. As the December series begins, the Nifty carries forward 1.29 crore shares of open interest, which is higher than the previous series. This increase in open interest, along with a higher cost of carry at +0.97%, indicates aggressive short positioning among traders.

The bearish sentiment seems to be strengthening, with many speculating on the continuation of negative market trends.