03-11-2023 09:20 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 03 November 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 03 November 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
A narrowing bollinger band along side prices swinging higher from oversold region and maintaining above 19120 for most part of yesterday encourages us to persist with the 19420 trajectory. The 19250 region will be a point of indecision today, but as long as we do not get back below 19170 after initial rise, extended upside could be expected.- Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 19150 for Calls and 19100 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19150 for Calls and 19100 for Puts in weekly and at 19800 for Calls and 19100 for Puts in monthly contracts. FIIs increased their future index long position holdings by 17.48%, increased future index shorts by 9.95% .Decreased in index options by 22.86% in Call longs, 19.83% decrease in Call short, 13.47% decrease in Put longs and 18.83% decrease in Put shorts. - Read more
USD-INR outlook:
The slight negative bias that was expected yesterday, being below 83.26, played out without any directional moves. Expect swings on either sides of the same today, even as we remain in wait for a range breakout beyond 83.4-83 to welcome speed. - Read more
Above views are of the author and not of the website kindly read disclaimer
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