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28-11-2023 10:43 AM | Source: Geojit Financial Services

Morning Nifty and Derivative comments 28 November 2023 By Anand James, Geojit Financial Services

News By Tags | #Sensex #ExpertViews #MarketOutlook #Nifty #BankNifty #GeojitFinancialServicesLtd #AnandJames

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Views On Morning Nifty and Derivative comments 28 November 2023 by Anand James - Chief Market Strategist at Geojit Financial Services

Niftyoutlook :

Last week, we were willing to extend the target to 19960 or 20100, despite momentum fizzling out on test of 19850. We are still hopeful of the same, but there is a sense that distribution is in play, that is poised to unfold a downswing towards 19591, the 50dma. Towards this end, downside marker may be placed to 19750 for all upside views for the week. - Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 19900 for Calls and 19800 for Puts while monthly contracts have highest open interest at 19900 for Calls and 19800 for Puts. Highest new OI addition was seen at 19800 for Calls and 19450 for Puts in weekly and at 19800 for Calls and 19450 for Puts in monthly contracts. FIIs increased their future index long position holdings by 8.58%, increased future index shorts by 1.24% and in index options by 22.67% in Call longs, 18.21% in Call short, 27.17% in Put longs and 28.89% in Put shorts. - Read more

USD-INR outlook:

Upside attempts persisted on Friday, but 83.4 stood firm. Look for a pull back, but not exceeding 83.26, followed yet another attempt to overcome 83.4. Slippage below 83.26 could signal loss in strength, calling for consolidation inside 83.19 - 83.02 again. - Read more

Above views are of the author and not of the website kindly read disclaimer

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Morning Nifty and Derivative comments 28 November 2023 By Anand James, Geojit Financial Services

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