26-10-2023 11:20 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 26 October 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 26 October 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
The anticipated upswings turned out to be too feeble yesterday in the face of the bearish onslaught plunge that has clearly set its eyes on 18600, the 200DMA. Recovery hopes now rest on the ability of bulls to regroup near 19000, the psychological mark, but the 19200-260 region appears to be a stiff challenge to cross right away, in the event of an upswing. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 19500 for Calls and 19000 for Puts while monthly contracts have highest open interest at 19500 for Calls and 19000 for Puts. Highest new OI addition was seen at 19200 for Calls and 18950 for Puts in weekly and at 19200 for Calls and 18950 for Puts in monthly contracts. FIIs increased their future index long position holdings by 3.11%, increased future index shorts by 2.39% and in index options by 35.84% in Call longs, 18.92% in Call short, 24.93% in Put longs and 2.26% in Put shorts. - Read more
USD-INR outlook:
Regrouping in the 82.98 vicinity has brought us back again to the consolidation band, with 83.2 required to be broken to signal strength. Such an outcome could open room for 83.3-83.4 easily. - Read more
Above views are of the author and not of the website kindly read disclaimer
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