Morning Nifty and Derivative comments 16 November 2023 By Anand James, Geojit Financial Services

16-11-2023 10:52 AM | Source: Geojit Financial Services

Morning Nifty and Derivative comments 16 November 2023 By Anand James, Geojit Financial Services

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Views On Morning Nifty and Derivative comments 16 November 2023 by Anand James - Chief Market Strategist at Geojit Financial Services

Nifty outlook:

Expect momentum to slow down, but with 19840 trajectory remaining intact. Inability to float above 19673 could however discourage buyers from chasing prices, and could see them withdrawing until perhaps 19637 or 19560

Derivative outlook:

Nifty weekly contract has highest open interest at 19800 for Calls and 19600 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19700 for Calls and 19600 for Puts in weekly and at 20100 for Calls and 19600 for Puts in monthly contracts. FIIs increased their future index long position holdings by 10.41%, increased future index shorts by 0.19% and decrease in index options by 19.41% in Call longs, 9.40% in Call short, 16.66% in Put longs and 9.94%

USD-INR outlook:

The 83.02 region held forte as anticipated, even though the pull back thereof did not stretch all the way till 83.19. This could still unfold, though a break beyond the same is less expected. Expect 82.78, if 83.02 gives away.

Above views are of the author and not of the website kindly read disclaimer

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Morning Nifty and Derivative comments 16 November 2023 By Anand James, Geojit Financial Services

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