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

21-11-2024 09:31 AM | Source: Geojit Financial Services Ltd

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

Nifty outlook:

While we had not expected Tuesday’s upswing to push beyond the 23733-88 band, the hammering and the extent of pull back thereof was indeed surprising. With more Nifty500 stocks ending up above 10day SMA than on Monday, we feel that risk appetite is alive and are encouraged to ignore the large downside and scout for upside attempts again, early in the day. However, inability to float above 23565 could signal quick slides to 23100-22800. - Read more

Derivative outlook:

Nifty weekly contracts have the highest open interest at 24000 CE and 23000 PE while monthly contracts have the highest open interest at 24000 CE and 23000 PE. The highest Of addition was seen at 24000 CE and 22500 PE in weekly and at 24000 CE and 22500 PE in monthly contracts. Flls increased their future index long holdings by 1.92%, decreased future index shorts by 7.75% and in index options, 5.84% increase in Call longs, 3.21% increase in Call short, 7.08% decrease in Put longs and 8.05% decrease 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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