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Published on 13/04/2020 11:57:27 AM | Source: Geojit Financial Services Ltd

The Nifty April futures closed at 9086.70 with a gain of 3.84% or 336 points on Thursday - Geojit Financial

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F&O OUTLOOK

Review

The Nifty April futures closed at 9086.70 with a gain of 3.84% or 336 points on Thursday. Markets were closed on Friday on account of Good Friday. Open interest of the current month expiry added by 7.13 lakh shares indicating addition of positive bets. Nifty’s VIX slipped nearly by 5% to 49.7450 versus. FIIs were buyers after a day of sell-off; bought derivatives worth Rs 2006.76cr on 09 Apr as per provisional figures. They added long positions by 19.80% in index futures while also increased exposure in shorts merely by 0.20%. Indian markets to remain shut tomorrow on the back of Dr.Baba Saheb Ambedkar Jayanti.

 

Nifty outlook

9000 strike continues to see short covering, which should help Nifty breeze through another +500 points. OTMs finding fresh buying interest is a sign that positive intent is strengthening, but also projects the 9500-10000 band as the near term resistance. Meanwhile, OTM puts are being sold aggressively, confirming near term positivity,, while also weakening the support band existed along the 8500-7000 band. FIIs are looking for more uspides, considering the near 20% build in index future last Thursday.

 

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