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28-09-2023 10:09 AM | Source: Geojit Financial Services

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

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

Nifty outlook:

Despite extremely gloomy opening moves, an outright collapse was avoided as expected, with 19550 attracting enough buying interest to raise hopes towards a reversal from the 20200-19550 down move that has been in play since 18Sep. However, that the upmove stalled at the first level of significance, at 19727-43, refrains us from an all out buy. We will however be encouraged to aim for 19780-880 as long as declines do not stretch beyond 19678-19654. - Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 19800 for Calls and 19000 for Puts while monthly contracts have highest open interest at 19800 for Calls and 19000 for Puts. Highest new OI addition was seen at 19700 for Calls and 19650 for Puts in weekly and at 19700 for Calls and 19650 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 0.21%, increased future index shorts by 13.77% and in index options by 14.61% in Call longs, 15.15% in Call short, 13.01% in Put longs and 23.35% in Put shorts. - Read more

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

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