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Views On Morning Nifty and Derivative comments 27 October 2023 by Anand James - Chief Market Strategist at Geojit Financial Services

 Nifty outlook: 
A doji in the 4hr candle signals indecision and potential reversal. We will look for a push towards 19000-19050, but pull back below 18900 towards close could signal that bears have regrouped, and complete the 18600 trajectory. - Read more

Derivative outlook:
Nifty weekly contract has highest open interest at 18900 for Calls and 18850 for Puts while monthly contracts have highest open interest at 18900 for Calls and 18850 for Puts. Highest new OI addition was seen at 18900 for Calls and 18850 for Puts in weekly and at 18900 for Calls and 18850 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 58.60%, increased future index shorts by 20.80% and decreased index options by 51.69% in Call longs, 27.78% decrease in Call short, 49.81% decrease in Put longs and 34.33% decrease in Put shorts. - Read more

USD-INR outlook:
Upswings strengthened on anticipated lines, after a push above 83.2, but the moves thereof fizzled off just short of achieving the first target of 83.3 pencilled in for yesterday. We might have to consolidate again in the 82.20-82.14 region before reattempting 83.3-83.4. - Read more

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