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24-11-2023 09:57 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 24 November 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 24 November 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Niftyoutlook :
Our stance yesterday was to move up the downside marker to 19790 which is where dips were arrested. Though the turn higher thereof was not exciting enough, we are motivated enough to persist with the prevailing direction and the 19960-20100 objectives, but with 19790/750 region continuing to be watched out for. - Read moreDerivative outlook:
Nifty weekly contract has highest open interest at 19800 for Calls and 19800 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19800 for Puts. Highest new OI addition was seen at 19800 for Calls and 19800 for Puts in weekly and at 20300 for Calls and 19800 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 5.73%, increased future index shorts by 1.27% and decrease in index options by 25.63% in Call longs, 17.40% decrease in Call short, 28.51% decrease in Put longs and 28.63% decrease in Put shorts. - Read more
USD-INR outlook:
Lacklustre moves continue, with 83.3-83.26 becoming a sticky region. We will look for slippage below 83.26, to spot loss in strength, calling for consolidation inside 83.19 - 83.02 again, but the bias appears to be moderately up. - Read more
Above views are of the author and not of the website kindly read disclaimer
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