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Nifty outlook: 

While Nifty has persisted with the upside trajectory on anticipated lines, trading ranges narrowed yesterday urging caution. Inability to further gains after entering the 18040-160 band could call for buyers withdrawing at least until 17860.  

Derivative:

Nifty weekly contract has highest open interest at 18200 for Calls and 17900 for Puts while monthly contracts have highest open interest at 18800 for Calls and 16500 for Puts. Highest new OI addition was seen at 18000 for Calls and 17900 for Puts in weekly and at 18000 for Calls and 16000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 13.70%, increased future index shorts by -5.50% and in index options by 8.77% in Call longs, 3.15% in Call short, 0.59% in Put longs and 10.52% in Put shorts.

USD-INR outlook:

Pull back to the 79.40-79.60 region is likely if an early attempt to slip beyond 79.27 fails. Slippage past 79.15 would call for 78.8  

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