13-12-2023 11:43 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 13 December 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 13 December 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
With the 20850 region rushing in to support yet again, we will start the day with positivity intact, and with eyes on 20980 or 21030, but not much beyond. Meanwhile, inability to float above 20925-45 region would strengthen the case for a fall towards 20650-560. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 21000 for Calls and 20900 for Puts while monthly contracts have highest open interest at 21000 for Calls and 19000 for Puts. Highest new OI addition was seen at 21000 for Calls and 20500 for Puts in weekly and at 21000 for Calls and 20500 for Puts in monthly contracts. FIIs increased their future index long position holdings by 10.74%, decreased future index shorts by 1.99% and in index options by 17.87% increase in Call longs, 7.02% decrease in Call short, 18.84% increase in Put longs and 10.10% decrease in Put shorts. - Read more
USD-INR outlook:
Look for dips to 83.29 and lie in wait for a 83.65 move in the event of breach of 83.4. But given the lack of lustre moves recently, a directional move is less likely. On the downside, we would look for weakness to trickle in if below 83.29, but expect 83.19 and 83.02 to support initially. - Read more
Above views are of the author and not of the website kindly read disclaimer
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