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Nifty outlook: 

Yesterday was full of optimism that was poised to carryNifty into the 18,700-770 region. But we had no visibility past the same yesterday, given how oscillators were positioned for yesterday. This region will remain a barrier for upsides for now, and as maintained earlier, slippage below 18,560 would render the trend sideways, while collapse prospects need to be reconsidered only once in the 18,300-100 band.  

Derivative:

Nifty weekly contract has highest open interest at 19,000 for Calls and 18,600 for Puts while monthly contracts have highest open interest at 19,000 for Calls and 18,000 for Puts. Highest new OI addition was seen at 18900 for Calls and 18650 for Puts in weekly and at 19200 for Calls and 18700 for Puts in monthly contracts. FIIs increased their future index long position holdings by -0.79%, increased future index shorts by 7.26% and in index options by -10.55% in Call longs, -2.78% in Call short, -0.50% in Put longs and -8.96% in Put shorts.  

USD-INR outlook:

Yesterday’s upsides failed to gather momentum, and a pull back into the 82.46-82.17 bandfails had rendered the trend sideways. We will look for a breach past 82.9 to play directional upsides, but expect uppish bias while above 82.65.

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