14-09-2023 09:46 AM | Source: Geojit Financial Services Ltd
Morning Nifty and Derivative comments 14 September 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 14 September 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
The 19944 region held for yet another day. Thus, despite the selling found towards close, the upside trajectory aiming 20230, or even 20600 continue to be in play. Downside marker may be pushed higher to 20033, with deeper support beyond 19944 seen at 19690. - Read more
Derivative:
Nifty weekly contract has highest open interest at 20100 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 20250 for Calls and 20000 for Puts in weekly and at 20100 for Calls and 20000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 9.58%, decreased future index shorts by 5.62% and in index options by 26.60% in Call longs, 22.39% in Call short, 28.08% in Put longs and 14.41% in Put shorts. - Read more
USD-INR Outlook:
Upticks keep resurfacing on anticipated lines, being above 82.78, but refuse to push much above 83. To this end we will continue to employ a buy on dips approach. Slippage past 82.78 could call for 82.20, and signal an end to upside prospects though. We expect a break beyond 82.78-83 range soon. - Read more
Above views are of the author and not of the website kindly read disclaimer
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