14-10-2024 09:42 AM | Source: Geojit Financial Services Ltd
Morning Nifty and Derivative comments 14 October 2024 By Anand James, Geojit Financial Services
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Below the Quote on Technical Views from Anand James, Chief Market Strategist, Geojit Financial Services
Nifty outlook:
Despite the disappointing decline in the momentum of the recovery move, towards the end of the week, Nifty settled above the 68% fibo of the recent low-high, keeping the positive structure alive. This, along with oscillators’ positive divergence encourages us to continue hunting for upsides aiming 25390 or 25770 in an optimistic scenario. Our downside marker is now at 24900, and it may be possible that we head below the same at some point in the week, but expect 24880-830 to slow down the bears. Downside scenarios see 24370-23900 as objectives, but we are not in favour of a sudden decline. - Read moreDerivative outlook:
Nifty weekly contract has highest open interest at 26000 for Calls and 25000 for Puts while monthly contracts have highest open interest at 27000 for Calls and 25000 for Puts. Highest new OI addition was seen at 26000 for Calls and 24950 for Puts in weekly and at 25800 for Calls and 24000 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 0.13%, decreased future index shorts by 1.56% and in index options, 35.12% increase in Call longs, 6.70% increase in Call short, 27.72% increase in Put longs and -4.36% increase in Put shorts. - Read more
Above views are of the author and not of the website kindly read disclaimer
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