Morning Nifty, Derivative and Rupee comments 18 October 2022 By Anand James, Geojit Financial Services
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Views On Morning Nifty, Derivative and Rupee comments 18 October 2022 by Anand James - Chief Market Strategist at Geojit Financial Services.
Nifty outlook:
The recovery and push beyond 17430, that we anticipated yesterday, is probably gathering steam for a run up to18100, with initial stop at 17580. Given the sharp decline that ensued a few days back while attempting a breach of 17430, the downside marker needs to be placed near 17240/180.
Derivative:
Nifty weekly contract has highest open interest at 17300 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 17300 for Calls and 17300 for Puts in weekly and at 17300 for Calls and 17300 for Puts in monthly contracts. FIIs increased their future index long position holdings by 2.62%, increased future index shorts by -2.14% and in index options by 9.28% in Call longs, 20.21% in Call short, -0.11% in Put longs and 59.75% in Put shorts.
USD-INR outlook:
Finally, the 82.4 region has begun to show signs of losing its ability to keep trades close toit. A dip to 81.8 is in store with 82.2 and 82 as the initial objectives. It would require a direct rise above 82.55 to negate this view.
Above views are of the author and not of the website kindly read disclaimer
