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Below are Views On Morning Nifty, Derivative and Rupee comments 16 February 2022 by Anand James - Chief Market Strategist at Geojit Financial Services 

Nifty Outlook

VIX has eased, but is well above 20, prompting us to position the downside reversal at 17130, quite far from yesterday’s close. Favoured view expects a peep into the17430-530 region before oscillators may signal exhaustion.

USDINR Outlook

The mild negative bias hinted yesterday evolved into a bigger fall. Expect mild upswings to75.3 today, but inability to do so, would signal continuation of yesterday’s fall, aiming for74.92.

Derivative comments

Nifty weekly contract has highest open interest at 17700 for Calls and 17000 for Puts while monthly contracts have highest open interest at 18350 for Calls and 17300 for Puts. Highest new OI addition was seen at 17700 for Calls and 17000 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 22.62%, increased future index shorts by -5.13% and in index options by 25.66% in Call longs, 7.47% in Call short, 5.55% in Put longs and 11.68% in Put shorts.

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