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Nifty outlook: 

Though we tested 20000 without any hiccups, three days of consistent close above the upper Bollinger band rings in prospects of consolidation. Towards this end, we will approach 20050, the second objective lined up for yesterday, with caution, expecting a mean reversion. However, if Nifty succeeds in floating above 19944, expect continued rise to 20230, or even 20600 without further drama in the near term. - Read more

Nifty weekly contract has highest open interest at 20000 for Calls and 19900 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 20100 for Calls and 19900 for Puts in weekly and at 20500 for Calls and 19900 for Puts in monthly contracts. FIIs increased their future index long position holdings by 8.94%, decreased future index shorts by 0.34% and increased index options by 26.67% in Call longs, 14.85% in Call short, 32.77% in Put longs and 22.21% in Put shorts. - Read more

USD-INR Outlook:

Dips to 82.78 found buying interest on anticipated lines, raising prospects of a swing higher again. Alternatively, inability to float above 82.78, will call for 82.20, and could signal an end to upside prospects. - Read more

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