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

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

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

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

Nifty outlook:

A brief penetration of 25200 was not enough to keep away the bears from regrouping yesterday as feared. However, we are inclined to continue expecting that a free fall will be avoided, rooting on the supports at 24940-880-830 pencilled in yesterday to step in. If this succeeds, the ascent to 25390 could continue on anticipated lines. - Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 25500 for Calls and 24000 for Puts while monthly contracts have highest open interest at 27000 for Calls and 25000 for Puts. Highest new OI addition was seen at 25500 for Calls and 24400 for Puts in weekly and at 27000 for Calls and 25300 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 12.44%, increased future index shorts by 7.26% and in index options, 18.79% decrease in Call longs, 10.09% decrease in Call short, 18.50% decrease in Put longs and 6.83% 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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