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30-10-2023 09:56 AM | Source: Geojit Financial Services
Morning Nifty and Derivative comments 30 October 2023 By Anand James, Geojit Financial Services
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Views On Morning Nifty and Derivative comments 30 October 2023 by Anand James - Chief Market Strategist at Geojit Financial Services
Nifty outlook:
Ideally, the ongoing recovery rally has room for upsides till either 19250 or 19420. But inability to scale 19150 today, or a direct pull back below 18900 could signal that bears never left, paving way for not only 18600, but also bring 17000 into the radar. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 19200 for Calls and 19000 for Puts while monthly contracts have highest open interest at 19000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19200 for Calls and 19000 for Puts in weekly and at 19600 for Calls and 18500 for Puts in monthly contracts. FIIs increased their future index long position holdings by 17.91%, increased future index shorts by 2.61% and in index options by 17.20% in Call longs, 18.34% in Call short, 13.16% in Put longs and 52.45% in Put shorts. - Read more
USD-INR outlook:
Given the lack of momentum on either sides, 83.3 and 84.4 will remain upside challenges, and it might require further consolidation in the 83.20-83.14 region before reattempting upsides. Push beyond 83.4 or fall below 83 could bring in momentum. - Read more
Above views are of the author and not of the website kindly read disclaimer
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