Morning Nifty, Derivative and Rupee comments 05 September 2022 By Anand James, Geojit Financial Services
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Views On Morning Nifty, Derivative and Rupee comments 05 September 2022 by Anand James - Chief Market Strategist at Geojit Financial Services.
Nifty outlook:
The week opens with a modest downside objective of 17440-370, before allowing a chance for bulls to fight back. Inability to push beyond 17580, would however bring the 17000-16650 region again in play.
Derivative:
Nifty weekly contract has highest open interest at 17600 for Calls and 16500 for Puts while monthly contracts have highest open interest at 17600 for Calls and 16000 for Puts. Highest new OI addition was seen at 18000 for Calls and 17000 for Puts in weekly and at 17500 for Calls and 16000 for Puts in monthly contracts. FIIs increased their future index long position holdings by -27.32%, increased future index shorts by 14.74% and index options by 30.00% in Call longs, 25.54% in Call short, 42.27% in Put longs and 42.99% in Put shorts.
USD-INR outlook:
The stickiness to 79.7 continues to signal indecision, and sideways move within the 79.6-79.8 region.
Above views are of the author and not of the website kindly read disclaimer
