06-11-2023 10:07 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 06 November 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 06 November 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
The 19250 region held forte on Friday on anticipated lines, but there was no further drama to threaten the 19420 trajectory. This encourages us to extend upside hopes to 19840, but with prospects of yet another pause once inside the 19420-550 region. Those playing for 19840 may keep the downside marker at 19170 itself until we get past 19550. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 19300 for Calls and 19200 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new Ol addition was seen at 19300 for Calls and 19200 for Puts in weekly and at 20100 for Calls and 19200 for Puts in monthly contracts. Fils increased their future index long position holdings by 9.31%, decreaased future index shorts by 4.26% and increase in index options by 25.09% in Call longs, 21.96% in Call short, 40.85% in Put longs and 54.39% in Put shorts. - Read more
USD-INR outlook:
The persistent inability to push much beyond 83.3 prompts us to look at the prospects of a deep dive down. Expect brief upside attempts after a lower opening, but if they fail to push much above 83.19, the downsides to gain momentum, once we slip below 83.02.- Read more
Above views are of the author and not of the website kindly read disclaimer
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