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

2024-10-21 10:24:38 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

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

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Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here

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

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