Morning Nifty, Derivative and Rupee comments 17 February 2022 by Anand James ,Geojit Financial Services
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Below are Views On Morning Nifty, Derivative and Rupee comments 17 February 2022 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty Outlook
Both the forays into the 17430-530 was short and brief, signaling exhaustion as expected. But the turn lower has not resulted in a collapse as yet. We are not chasing such a move either, as long as 17170 holds, but be sure to expect distribution to reemerge as long as upside attempts do not veer much away from 17340.
USDINR Outlook
Having achieved 74.92 in a jiffy, a consolidation is now in store inside the 75.2-74.8 region.
Derivative comments
Nifty weekly contract has highest open interest at 18000 for Calls and 17000 for Puts while monthly contracts have highest open interest at 18000 for Calls and 17000 for Puts. Highest new OI addition was seen at 18000 for Calls and 17000 for Puts in weekly and at 18000 for Calls and 17000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 11.23%, increased future index shorts by 4.71% and in index options by 2.01% in Call longs, 0.46% in Call short, 2.96% in Put longs and 3.04% in Put shorts.
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