Morning Nifty, Derivative and Rupee comments 7th February 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
Below are Views On Morning Nifty, Derivative and Rupee comments 7th February 2022 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook
Though 17470 managed to swing prices higher on Friday, momentum fizzled off on approach to 17600, keeping the 17340 objective in play. It would now require a break beyond 17580 to instill confidence in upsides, but we will watch the 17420-380 region for early emergence of bargain hunting.
Derivative comments
Nifty weekly contract has highest open interest at 17800 for Calls and 17500 for Puts while monthly contracts have highest open interest at 17500 for Calls and 17000 for Puts. Highest new OI addition was seen at 17800 for Calls and 17500 for Puts in weekly and at 18000 for Calls and 16500 for Puts in monthly contracts. FIIs increased their future index long position holdings by 3.28%, increased future index shorts by -17.69% and in index options by 33.72% in Call longs, 20.78% in Call short, 40.02% in Put longs and 42.45% in Put shorts.
Above views are of the author and not of the website kindly read disclaimer
