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

07-10-2024 10:44 AM | Source: Geojit Financial Services

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

Nifty outlook:

A reversal play shall mark the start of the week, though a vertical rise is less expected, with initial trading range expected to be 25260-24940. While upside attempts take time to build strength, direct fall below 24940 holds the potential to hasten slides to 23900. - Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 27950 for Calls and 23100 for Puts while monthly contracts have highest open interest at 27000 for Calls and 25000 for Puts. Highest new OI addition was seen at 27950 for Calls and 23100 for Puts in weekly and at 25300 for Calls and 25300 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 8.17%, increased future index shorts by 31.25% and in index options, 55.33% increase in Call longs, 30.94% increase in Call short, 52.09% increase in Put longs and 16.84% increase in Put shorts. - Read more

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

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