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Nifty outlook: 

The 18100 objective that has been in discussion since earlyOctober is within touching distance. Favoured view expects breach of the same and head into the 18350-18600, but a directrise above 18100 is sure to attract long liquidation pressure.Pivotal points that may be used as TSL are now at 17470 and 17750 which are wide and that presents a risk if VIX were to rise from here. This is the key risk ahead.  

Derivative:

Nifty weekly contract has highest open interest at 18200 for Calls and 17700 for Puts while monthly contracts have highest open interest at 18500 for Calls and 17000 for Puts. Highest new OI addition was seen at 18200 for Calls and 17300 for Puts in weekly and at 19500 for Calls and 17500 for Puts in monthly contracts. FIIs increased their future index long position holdings by -0.02%, increased future index shorts by 11.41% and in index options by 48.41% in Call longs, 23.46% in Call short, 102.51% in Put longs and 33.99% in Put shorts.  

USD-INR outlook:

Look for a break of 82.37 to play upsides, which may be expected to unfold soon.Alternatively, slippage past 82.15 could delay such outcome, and allow a retest of 81.85,but may not trigger a directional downside.  

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