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Views On Morning Nifty, Derivative and Rupee comments 22 August 2022 by Anand James - Chief Market Strategist at Geojit Financial Services.

Nifty outlook: 

A shooting star in weekly, and a bearish engulfing in daily chart hints that the 18100-18200 trajectory has probably come to an end. Traders will stare at the prospects of 17000 again, for the August expiry, but will fancy slim chances of recovery, should Monday volatility fail to penetrate 17600 and manage to pull back above 17720 which meets the internal trendline. Inability to do so will call for 17300 initially.

Derivative:

Nifty weekly contract has highest open interest at 18000 for Calls and 17300 for Puts while monthly contracts have highest open interest at 18000 for Calls and 17300 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 -3.75%, increased future index shorts by 15.46% and in index options by 33.82% in Call longs, 18.99% in Call short, 104.24% in Put longs and 10.06% in Put shorts.

USD INR outlook: