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Views On Morning Nifty and Derivative comments 30 November 2023 by Anand James - Chief Market Strategist at Geojit Financial Services

Niftyoutlook :

A mean reversion play aiming 19980 may be attempted, but favoured view expect dips to be arrested without them getting extended beyond 20033. That said, upsides are most likely to be limited to 20130-180.- Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 20200 for Calls and 20000 for Puts while monthly contracts have highest open interest at 20200 for Calls and 20000 for Puts. Highest new OI addition was seen at 20250 for Calls and 20000 for Puts in weekly and at 20250 for Calls and 20000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 32.81%, increased future index shorts by 3.44% and in index options by 25.49% in Call longs, 28.29% in Call short, 26.87% in Put longs and 47.21% in Put shorts.  - Read more

USD-INR outlook:

Dip towards 83.26 are in play, which is likely to be 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

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