IGI Logo

An up gapped opening above our pivot of 19545 ended up with a close above the upper extremity of the broadening wedge which had kept the price in a bearish channel so far. Ideally this sets up environment for a strong push to 19900 and much beyond, but we see the prospects of bears regrouping, if 19780 holds. With this in perspective, dips may be bought today, but expect upside attempts to lose strength, if unable to float above 19656. - Read more

Nifty weekly contract has highest open interest at 20000 for Calls and 19600 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19500 for Puts. Highest new OI addition was seen at 20100 for Calls and 19600 for Puts in weekly and at 20100 for Calls and 19700 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 5.44%, decreased future index shorts by 3.53% and in index options by -15.71% in Call longs, 2.70% in Call short, -8.11% in Put longs and 38.98% in Put shorts. - Read more

 Lacklustre trades continue to persist. As maintained yesterday, we would continue to persist with the 83.4-83.49 objectives initially and 83.73-84.5 thereafter. Downside marker may remain at 83.07 or 82.98. - Read more