Morning Nifty, Derivative and Rupee comments 26 August 2022 By Anand James, Geojit Financial Services
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Views On Morning Nifty, Derivative and Rupee comments 26 August 2022 by Anand James - Chief Market Strategist at Geojit Financial Services.
Nifty outlook:
Though the approach to 17730 exposed vulnerability on anticipated lines, upside prospects remain alive as long as above 17550 on a closing basis. The day’s positive bias could be lost though if below 17640. Repeat breach of17500 could call for 17000.
Derivative:
Nifty weekly contract has highest open interest at 17550 for Calls and 17300 for Puts while monthly contracts have highest open interest at 17550 for Calls and 17300 for Puts. Highest new OI addition was seen at 18000 for Calls and 17300 for Puts in weekly and at 18000 for Calls and 17300 for Puts in monthly contracts. FIIs increased their future index long position holdings by -49.43%, increased future index shorts by -24.51% and in index options by -41.22% in Call longs, -44.13% in Call short, -50.06% in Put longs and -48.38% in Put shorts.
USD INR outlook:
Attempts to breach the 80 mark were rejected yesterday. Expect sideways moves, and choppiness to prevail. Directional trades may wait for a test or breach of the 79.6-80 extremities.
Above views are of the author and not of the website kindly read disclaimer
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