16-11-2023 10:52 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 16 November 2023 By Anand James, Geojit Financial Services
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
Latest News
Sensex plunges 900 points in broad-based selling
Global smartphone market up 6 per cent in Q1, revenu...
Shriram Properties zooms on acquiring 4 acre land pa...
Sensex down 300 points on selling in heavyweights
Rupee strengthens against US dollar on Friday
Apple making significant investments in GenAI, to sh...
Stock of the day : Bharat Petroleum Corporation Ltd....
Dabur India gains on reporting 17% rise in Q4 consol...
6 years of realme: A story of innovation, dedication...
Stock Picks : State Bank of India Ltd And Jindal Ste...
Tag News
Nifty opened with an downward gap but witnessed buy ing from the opening tick to end positiv...
The index continues to oscillate within the ongoing channel pattern formation with its upper end placed around 22990-23040 zone - Tradebulls Securities Pvt Ltd
Benchmark index is likely to open higher on favourable global cues and trade with positive bias today - Monarch Networth Capital Ltd
Sold Index Option worth 22053 Cr - Axis Securities Ltd