15-11-2023 09:57 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 15 November 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 15 November 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
Despite a down close, Monday saw a finish above the VWAP, for the first time in last five days. This encourages us to be more confident about the 19840 trajectory which we have been playing since last week. In anticipation of the same, we had pushed the downside marker higher to 19433/19370 as well, which may remain the turnaround points until 19840 is cleared. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 19500 for Calls and 19400 for Puts while monthly contracts have highest open interest at 19500 for Calls and 19000 for Puts. Highest new OI addition was seen at 19500 for Calls and 19100 for Puts in weekly and at 20100 for Calls and 19100 for Puts in monthly contracts. FIIs increased their future index long position holdings by 3.00%, decreased future index shorts by 4.06% and increase in index options by 1.70% in Call longs, 0.23% in Call short, 3.19% in Put longs and 0.13% in Put shorts. - Read more
USD-INR outlook:
We had expressed our disclination to pursue major upside, despite a strong push into the 83.3-83.4 region on Friday, and had wanted to see it as an aberration, given there was no follow through buying. If 83.02 holds expect a pull back not exceeding 83.19, but the prospects of extended slippage to 82.78, appears higher. - Read more
Above views are of the author and not of the website kindly read disclaimer
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