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Below are Views On Morning Nifty, Derivative and Rupee comments 18 February 2022 by Anand James - Chief Market Strategist at Geojit Financial Services 

USD INR view/outlook

Consolidation unfolded yesterday, on anticipated lines, testing the upper band of the 75.2-74.8region that is expected to be in play today as well.

Nifty view/outlook 

With 17340 remaining a sticky region, all attempts to push further higher yesterday, found buyers withdrawing, prompting Nifty to search for deeper supports to regroup. The consequent drop in the closing hour will lend a negative bias early today. Oscillators look less inclined to support a relief rally in the first half. We may have to wait for a test of 17070 or a direct pullback above 17340 before playing for upsides.

Derivative comments

Nifty weekly contract has highest open interest at 18000 for Calls and 15100 for Puts while monthly contracts have highest open interest at 18000 for Calls and 15100 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 12.90%, increased future index shorts by 2.44% and in index options by -36.28% in Call longs, -20.40% in Call short, -42.98% in Put longs and -33.78% in Put shorts

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