10-10-2023 09:51 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 10 October 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 10 October 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
Though the downside gapped opening yesterday failed to cascade into a collapse, the close below 19600 suggest that the regrouping of bulls has not been strong enough. We will look for sustained trades above 19545 early today to nurture hopes of getting back to the 19900 trajectory. Else, expect the ongoing weakness to persist and aim for 19180 with hopes of 19340 attempting a pull back midway. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 19800 for Calls and 19500 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19500 for Puts. Highest new OI addition was seen at 19800 for Calls and 19200 for Puts in weekly and at 19800 for Calls and 19250 for Puts in monthly contracts. FIIs increased their future index long position holdings by 1.37%, increased future index shorts by 3.09% and in index options by 13.93% in Call longs, 0.68% decrease in Call short, 22.68% increase in Put longs and 1.43% increase in Put shorts. - Read more
USD-INR outlook:
The upswing evolved yesterday without requiring deeper dips to 83.07, but appeared to slow down after seeing 83.3. Yet, with downside marker at 83.07 or 82.98, we would continue to persist with the 83.4-83.49 objectives initially and 83.73-84.5 thereafter. - Read more
Above views are of the author and not of the website kindly read disclaimer
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