08-01-2024 10:16 AM | Source: Geojit Financial Services Ltd
Morning Nifty and Derivative comments 08 January 2024 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 08 January 2024 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
We will begin the week with modest upside modest expectations, aiming 21860-930, but with eyes on 22400 as well. Alternatively, while a collapse is less expected unless below 21370, slippage past 21630 could considerably dilute the upside prospects. - Read moreDerivative outlook:
Nifty weekly contract has highest open interest at 22500 for Calls and 21000 for Puts while monthly contracts have highest open interest at 22000 for Calls and 21000 for Puts. Highest new OI addition was seen at 23000 for Calls and 21700 for Puts in weekly and at 21800 for Calls and 21800 for Puts in monthly contracts. FIIs increased their future index long position holdings by 1.90%, decreased future index shorts by 1.77% and in index options by 55.33% increase in Call longs, 34.79% increase in Call short, 71.58% increase in Put longs and 10.42% increase in Put shorts. - Read moreUSD-INR outlook:
Expect downside momentum to persist, while below 83.10, with recent reaction low at 82.9, offering the first support. Slippage past the same could expose 82.78. - Read more
Above views are of the author and not of the website kindly read disclaimer
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