21-09-2023 10:25 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 21 September 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 21 September 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
We are haflway enroute the 19550 objective that we had started with, a few days back, with 20000, the first level of defence giving away from the first approach itself. Eyes are now on 19830-19690-600 to attract buying interests. Downside prospects could be delayed, if Nifty manages to swing above 19956, though short covering may not gain strength unless above 20030. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 20000 for Calls and 19900 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 20000 for Calls and 19900 for Puts in weekly and at 20000 for Calls and 19900 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 24.14%, decreased future index shorts by 7.96% and decrease in index options by 20.43% in Call longs, 10.26% in Call short, 8.97% in Put longs and 1.13% in Put shorts. - Read more
USD-INR outlook :
Lack of upside momentum along with a pull back below 83.07 has punctured the upside move exposing 82.9 and 82.78, which should be in play today - Read more
Above views are of the author and not of the website kindly read disclaimer
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