15-12-2023 10:34 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 15 December 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 15 December 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
Yesterday’s run just about met 21220, pencilled in yesterday as the upside objective. Prospects of extension into the 21430-600 region, now rests on the ability to hold above 21160 which may be used as the downside marker for today. Slippage past the same could ask support from 20890, but will also expose 20700. Given how divergences are maturing in different oscillators, our bets are on a turn lower from the top. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 21200 for Calls and 21150 for Puts while monthly contracts have highest open interest at 21000 for Calls and 21000 for Puts. Highest new OI addition was seen at 21200 for Calls and 21150 for Puts in weekly and at 21300 for Calls and 21150 for Puts in monthly contracts. FIIs increased their future index long position holdings by 0.68%, increased future index shorts by 4.09% and in index options by 22.78% decrease in Call longs, 8.09% decrease in Call short, 7.27% decrease in Put longs and 13.07% increase in Put shorts. - Read more
USD-INR outlook:
Slippages were limited yesterday, allowing renewed attempts at breaking 83.4. This puts 83.29-83.4 as the range to break, until inside which moves are likely to be lacklustre.- Read more
Above views are of the author and not of the website kindly read disclaimer
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