A key highlight at the start of the September series is that the long exposure of foreign institutions is at the lowest ever. FIIs are currently net short at 1.68 lakh contracts.
| Month | FII Longs In Futures (%) |
| September | 8 |
| August | 10 |
| July | 38 |
| June | 20 |
| May | 41 |
| April | 40 |
However, extreme short positions for FIIs at the start of the series have also resulted in a strong upmove on the Nifty in the subsequent series.
| Series | Long Positions | Subsequent Nifty Move |
| August 2023 | 9% | 2,579 Points In Next Four Series |
| November 2023 | 11% | 2,921 Points In Next To Series |
| February 2025 | 11% | 2,300 Points In Next Five Series |
Historically, September has been a good series for the Nifty, with three out of the last four years, resulting in gains. Incidentally, it was at the end of the September series of 2024, that the Nifty had made its record high of 26,277, a level it has not managed to see again till date.
| September Series Year | Returns (Points) | Returns (%) |
| 2021 | 981 | 5.9 |
| 2022 | -704 | -4 |
| 2023 | 270 | 1.4 |
| 2024 | 1,064 | 4.2 |
At the start of the September series, Nifty’s rollovers stand a 83.6%, which is higher than the three-month average of 78.1%, and also higher than the 75.7% at the start of the August series.
| Series | Rollovers |
| September | 83.6% |
| August | 75.7% |
| July | 79.5% |
| June | 79.1% |
| May | 79.1% |
Here are some of the key triggers that lie ahead of the Nifty at the start of the September series:
- Reliance Industries AGM on August 29
- GST council meeting on rate rationalisation on September 3-4
- Any progress on India-US trade talks and tariffs
- US Federal Reserve meeting outcome on September 17
- Pre-festive buying
- Impact on demand due to heavy floods in North India
First Published: Aug 29, 2025 7:48 AM IS
