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Below the Quote on technical views from Anand James, Chief Market Strategist, Geojit Financial Services

Nifty outlook:

After testing the lower extremity of the 24370-507 range suggested for yesterday, the downsides appeared to lose momentum. Hence, even though the bounce back thereof was limited, there are enough signals to persist with a swing higher today to either 24507 or 24720-800 pencilled in as upside objectives yesterday as well. Bearish bets will now have to wait either for these levels to be achieved, or for a direct fall below 24370/340 again, to eye 24260-200- 23900.  -Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 25000 for Calls and 24500 for Puts while monthly contracts have highest open interest at 25000 for Calls and 24500 for Puts. Highest new OI addition was seen at 24500 for Calls and 22250 for Puts in weekly and at 24500 for Calls and 22250 for Puts in monthly contracts. FIIs increased their future index long position holdings by 6.71%, decreased future index shorts by 3.64% and in index options, 13.74% decrease in Call longs, 7.63% decrease in Call short, 11.09% decrease in Put longs and 1.42% increase in Put shorts.  - Read more

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