Technical Market Views by Anand James, Chief Market Strategist, Geojit Financial Services

22-10-2024 09:15 AM | Source: Geojit Financial Services Ltd

Technical Market Views by Anand James, Chief Market Strategist, Geojit Financial Services

News By Tags | #Sensex #ExpertViews #MarketOutlook #Nifty #BankNifty #GeojitFinancialServicesLtd #AnandJames

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Below the Quote on Technical Market Views by Anand James, Chief Market Strategist, Geojit Financial Services.

Nifty outlook:

The risk-on approach that surfaced on Friday fizzled off yesterday in the face of the rejection trades on the first approach to 24950. However, the lack of momentum post downside break of 24770 suggests that the 24470-23900 view may take a while to mature. Towards this end, should we push back above 24800, we would be inclined to consider it as a fresh onset of buying interest, and aim for 25350/90 again. - Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 25000 for Calls and 24000 for Puts while monthly contracts have highest open interest at 27000 for Calls and 24500 for Puts. Highest new OI addition was seen at 25000 for Calls and 23000 for Puts in weekly and at 25000 for Calls and 24000 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 2.05%, increased future index shorts by 0.71% and in index options, 7.27% increase in Call longs, 4.79% increase in Call short, 16.64% increase in Put longs and 1.35% increase in Put shorts. - Read more

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Technical Market Views by Anand James, Chief Market Strategist, Geojit Financial Services

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