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

21-10-2024 10:24 AM | Source: Geojit Financial Services

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

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

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

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

Nifty outlook:

Clearly a risk-on approach is resurfacing, but we will know about the momentum thereof, only this week. Only 44% of the Nifty 50 constituents are now trading above their respective 10 day SMAs. While we prefer to retain our last week’s view of 25390, be sure to be greeted by rejection trades on approach to 24950. A push beyond this is desperately needed to sustain recovery. Downside marker meanwhile would be at 24770, with supports below seen at 24470 and 23900. - Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 26000 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 25400 for Calls and 23000 for Puts in weekly and at 25600 for Calls and 22250 for Puts in monthly contracts. FIIs increased their future index long position holdings by 0.65%, decreased future index shorts by 2.02% and in index options, 25.44% increase in Call longs, 25.56% increase in Call short, 23.64% increase in Put longs and 58.56% increase in Put shorts. - Read more

Above views are of the author and not of the website kindly read disclaimer

IGI Logo

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

Top News

Tag News

More News