14-12-2023 10:34 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 14 December 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 14 December 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
Reclaiming of 20800-850 region not only negates the efforts of bears yesterday, but also allows resumption of upside trajectory aiming 21030-21220, or 21600 in an optimistic scenario. Alternatively inability to float above the 20890 region would weaken the bullish construct again, but a collapse is less favoured today. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 21000 for Calls and 20500 for Puts while monthly contracts have highest open interest at 21000 for Calls and 19000 for Puts. Highest new OI addition was seen at 20900 for Calls and 20500 for Puts in weekly and at 21000 for Calls and 20500 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 6.28%, increased future index shorts by 1.81% and in index options by 13.86% decrease in Call longs, 8.63% decrease in Call short, 28.73% decrease in Put longs and 22.32% decrease in Put shorts.- Read more
USD-INR outlook:
Look for slippage past 83.29 to play downsides aiming 83.19 and 83.02 initially. Alternatively, if slippages pause at 83.19, look for a resumption of upswings that were stalled yesterday and get back to the 83.35-83.4 region. - Read moreAbove views are of the author and not of the website kindly read disclaimer
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