Morning Nifty, Derivative and Rupee comments 14 February 2022 by Anand James ,Geojit Financial Services
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Below are Views On Morning Nifty, Derivative and Rupee comments 14 February 2022 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook
Standard deviation studies suggest that a plunge towards16200 and beyond, looms large. Oscillators however, are yet to signal a directional downsides, suggesting that a consolidation awaits us first early in the week, most likely inside the 16960-17400 band.
USD INR outlook
The 75.5-75.7 objectives that we had lined up last week, is in play. A much larger move to77, may have to be planned for, if there are consistent closes above 75.3 in the coming days.
Derivative comments
Nifty weekly contract has highest open interest at 17400 for Calls and 16300 for Puts while monthly contracts have highest open interest at 17400 for Calls and 17300 for Puts. Highest new OI addition was seen at 18000 for Calls and 16500 for Puts in weekly and at 18000 for Calls and 16500 for Puts in monthly contracts. FIIs increased their future index long position holdings by -8.41%, increased future index shorts by 8.08% and in index options by 18.39% in Call longs, 24.31% in Call short, 41.57% in Put longs and 24.15% in Put shorts.
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