Morning Nifty and Derivative comments 31 October 2023 By Anand James, Geojit Financial Services

31-10-2023 10:02 AM | Source: Geojit Financial Services Ltd

Morning Nifty and Derivative comments 31 October 2023 By Anand James, Geojit Financial Services

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Views On Morning Nifty and Derivative comments 31 October 2023 by Anand James - Chief Market Strategist at Geojit Financial Services

Nifty outlook:

Nifty tested the 19150 mark pencilled in yesterday as the first obstacle enroute the 19250-19420 objectives. We will begin the day, attempting to satisfactorily overcome the 19150-77 region. Inability to do so may not bring back negativity though, as long as dips thereof are contained above 19070.- Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 19500 for Calls and 19000 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19850 for Calls and 19000 for Puts in weekly and at 19100 for Calls and 19100 for Puts in monthly contracts. FIIs increased their future index long position holdings by 4.14%, increased future index shorts by 3.42% and in index options by 2.83% in Call longs, 18.34% in Call short, 17.32% in Put longs and 43.35% in Put shorts. - Read more

USD-INR outlook:

Lack of momentum continues to trouble the pair, with 83.3 and 83.14 remaining the immediate range. Breakout range is seen as 83.4 and 83 a breach of which is required to bring in speed. - 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 31 October 2023 By Anand James, Geojit Financial Services

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