Morning Nifty and Derivative comments 16 August 2023 By Anand James, Geojit Financial Services
Views On Morning Nifty and Derivative comments 16 August 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
While Monday’s smart recovery was encouraging, inability to push beyond 19460 has left us without an upside confirmation. We may however, scout for bargain buying until above 19386, supported by the hammer formation which allows upside hopes to remain, aiming 19520-670. Alternatively, should we fall below 19360, expect downsides to hasten towards 19258, 19060-18900 or even 18600 - Read more
Derivative:
Nifty weekly contract has highest open interest at 19600 for Calls and 19400 for Puts while monthly contracts have highest open interest at 19600 for Calls and 19400 for Puts. Highest new OI addition was seen at 19450 for Calls and 19300 for Puts in weekly and at 19450 for Calls and 19300 for Puts in monthly contracts. FIIs increased their future index long position holdings by 0.46%, increased future index shorts by 5.59% and in index options by -4.08% in Call longs, 3.45% in Call short, -16.16% in Put longs and 3.48% in Put shorts. - Read more
Above views are of the author and not of the website kindly read disclaimer
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