07-11-2023 09:49 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 07 November 2023 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
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Views On Morning Nifty and Derivative comments 07 November 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
The achievement of the 19420 provides an opportunity to pause, but exhaustion has not set in yet to call for an outright turn. We favour continued upsides towards 19475 or 19550 before a time correction sets in, without much of a price fall. Alternatively, outright fall back below 19360 could dilute the upside momentum, but a collapse is less favoured. Those playing for 19840 may continue to keep the downside marker at 19170 itself until we get past 19550. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 19500 for Calls and 19300 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19450 for Calls and 19300 for Puts in weekly and at 19400 for Calls and 19300 for Puts in monthly contracts. FIIs increased their future index long position holdings by 9.18%, decreased future index shorts by 5.42% and increase in index options by 10.31% in Call longs, 6.13% in Call short, 13.58% in Put longs and 22.89% in Put shorts. - Read more
USD-INR outlook:
The pull back near 83.19 our pivot for yesterday reveals nothing. As long as below 83.3, prospects of deep dive down will still be alive, aiming 82.78. For the day, expect brief upsides to 83.26 or 83.3. 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
Latest News
Over 100 million Indians can get gigabit connectivit...
Airtel, Google Cloud join hands to deploy GenAI solu...
Sensex closes 111 points up after intra-day volatility
Evening Roundup : A Daily Report on Bullion Energy &...
FIIs stood as net sellers in equities as per May 13 ...
Daily market commentary: Nifty recovered from lower ...
Post-market comment by Deven Mehata ,Research Analys...
Daily Market Analysis : The week kicked off with mar...
Mahindra & Mahindra and Ministry of Skill Developmen...
Quote On National Technology Day 2024 By Mr. Su Piow...
Tag News
Sensex closes 111 points up after intra-day volatility
Daily market commentary: Nifty recovered from lower levels to close with gains of 49 points (+0.2%) at 22104 levels Says Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Post-market comment by Deven Mehata ,Research Analyst, Choice Broking
Daily Market Analysis : The week kicked off with market volatility, but by the end, it managed to eke out marginal gains Says Mr. Ajit Mishra, Religare Broking Ltd
More News
Daily Market Analysis : The broader indices too extended their up move and gained in the ran...
Morning Technical Market views 26 April 2024 by Anand James, Chief Market Strategist, Geojit Financial Services
Morning Nifty and Derivative comments 26 December 2023 By Anand James, Geojit Financial Services
Morning market quote : The market construct is turning favourable aided by global and domestic factors Says Dr. V K Vijayakumar...