20-09-2023 10:13 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 20 September 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 20 September 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
The 20180 region kept a lid on upside attempts on anticipated lines, confirming a bearish bias, leading to sharp slippages in the closing minutes. This should prompt a lower opening today, with the 20050-20000 region expected to entice bargain buying. However, short covering may not gain pace until above 20130- 169, giving bears another day to play out. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 20200 for Calls and 20100 for Puts while monthly contracts have highest open interest at 20500 for Calls and 19000 for Puts. Highest new OI addition was seen at 20200 for Calls and 19500 for Puts in weekly and at 20200 for Calls and 20000 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 2.97%, decreased future index shorts by 1.21% and in index options by 1.09% in Call longs, -4.94% in Call short,increased 1.29% in Put longs and decreased 17.60% in Put shorts. - Read more
USD-INR outlook :
Upside moves gained traction on Friday, raising hopes of 83.44, but momentum slowed down late in the day. This prompts a weak start, especially as long as below 83.26, but expect dips to 83.18-83.10 to attract bargain buying and re attempt 83.44. Downside marker may be placed at 83.07. - Read more
Above views are of the author and not of the website kindly read disclaimer
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