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Nifty outlook: 

Indecisiveness crept in on anticipated lines after reaching the 18,900 vicinity. The consequent consolidation is expected to spill over to today as well, during which time, it would be important not to stretch much beyond 18,715, in order to stick with the 19,400 trajectory. Expectupsides hopes to be diluted on pull back beyond 18,715, but a collapse is not expected unless below 18,470.  

Derivative:

Nifty weekly contract has highest open interest at 18,900 for Calls and 18,800 for Puts while monthly contracts have highest open interest at 19,000 for Calls and 18,500 for Puts. Highest new OI addition was seen at 18,850 for Calls and 18,800 for Puts in weekly and at 19,400 for Calls and 18,500 for Puts in monthly contracts. FIIs increased their future index long position holdings by -4.66%, increased future index shorts by -2.75% and in index options by -24.34% in Call longs, -28.82% in Call short, -21.94% in Put longs and -45.39% in Put shorts.  

USD-INR outlook:

Early sell off was strong enough to see the 81 vicinity, which encouraged bargain hunting. However, it will require a push beyond 81.35 to revive upside hopes. Else, expect consolidation today, followed by 80.7 in a few days.  

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