16-10-2024 09:09 AM | Source: Geojit Financial Services Ltd
Technical Market Views by Anand James, Chief Market Strategist, Geojit Financial Services.
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Below the Quote on Technical Market Views by Anand James, Chief Market Strategist, Geojit Financial Services.
Nifty outlook:
Though turbulence played out on expected lines yesterday, the steepness of the declines did raise alarms briefly. The close back above 25040 points to loss in bearish momentum, allowing us to retain the 25390 view for the week. We will now position for swings within the 24900- 25234 region initially. - Read moreDerivative outlook:
Nifty weekly contract has highest open interest at 25200 for Calls and 25000 for Puts while monthly contracts have highest open interest at 27000 for Calls and 25000 for Puts. Highest new OI addition was seen at 25200 for Calls and 23050 for Puts in weekly and at 26000 for Calls and 25300 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 2.54%, increased future index shorts by 0.85% and in index options, 6.82% increase in Call longs, 0.99% decrease in Call short, 10.64% increase in Put longs and 4.30% decrease in Put shorts. - Read moreAbove views are of the author and not of the website kindly read disclaimer
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Tag News
Benchmark index is likely to trade with mild positive bias today - Monarch Networth Capital Ltd
On the daily chart the index has formed a small Bearish candle with lower shadow indicating buying support at lowerlevels - Jainam Share Consultants
The Nifty is at a crucial juncture, testing key support and resistance levels amidst a mixed sentiment backdrop - Tradebulls Securities Pvt Ltd
The index started the truncated week on a subdued note and traded with a corrective bias throughout the day - ICICI Direct
