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Published on 9/10/2019 9:59:28 AM | Source: Geojit Financial Services Ltd

Expect Nifty to stage a swing higher from this level - Geojit Financial

F&O OUTLOOK

Review

Nifty index futures closed 0.47% lower at 11162 on Monday. Open interest added by 44,625 shares indicating short build ups in the markets. Nifty index premium fell from 40.4 points to 35.6 points. Nifty PCR declined marginally from Friday's 0.97 to 0.96.. Nifty volatility index, VIX ended 1.42% higher at 17.83 versus Friday's 17.58.

 

FIIs reduce negative bets

After consecutive days of adding to negative bets, a reversal move looks to be in play, with over 12000 contracts added to index call longs and index put shorts, while over15000 contracts unwound from index call shorts and index future shorts as well as index put longs.

 

Nifty outlook : Downsides may pause

Last couple of days’ falls look to have prompted FIIs to book profits from the negative bets built up through the last week and on Monday, and have even started to build on some positive bets. The weekly contract expiring tomorrow continues to see shorts in OTMs, which should act as a protection from further falls. Such activity being the highest near 11200, expect Nifty to stage a swing higher from this level. The activity in the monthly expiry contract however is consistent with the negative bets taken prevailing so far, but expect tomorrow’s expiry to set force a change.

 

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