Morning Nifty, Derivative and Rupee Comments as of 23 November 2022 By Anand James, Geojit Financial Services
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Views On Morning Nifty, Derivative and Rupee Comments as of 23 November 2022 by Anand James - Chief Market Strategist at Geojit Financial Services.
Nifty outlook:
Sustained trades above 18200 after early struggles have put the trend back in the positive territory, though there are several obstacles ahead, keeping downside prospects alive. The 18310-350 region is likely to rein in early upside attempts, but if the consolidation thereof manage to float above 18200/260, expect a 18430-600 dash.
Derivative:
Nifty weekly contract has highest open interest at 18300 for Calls and 18200 for Puts while monthly contracts have highest open interest at 18300 for Calls and 18200 for Puts. Highest new OI addition was seen at 18500 for Calls and 18200 for Puts in weekly and at 18500 for Calls and 18200 for Puts in monthly contracts. FIIs increased their future index long position holdings by 4.96%, increased future index shorts by -17.04% and in index options by -1.58% in Call longs, 1.43% in Call short, -11.74% in Put longs and 25.79% in Put shorts.
USD-INR outlook:
Upsides moves have faced persistent challenges, but downsides have been more vigorously bought. Favoured view expects 81.45 region to hold for renewed attempts to head to 82.
Above views are of the author and not of the website kindly read disclaimer
