11-10-2024 10:31 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:
While positivity lingered on, momentum failed to kick in, marking the second consecutive day of long tailed close hinting at rejection trades at the top. However, we are not yet inclined to see these as signs of an impending collapse, as we continue to root on supports at 24940-880-830 to hold fort. This construct allows for a triangular upside continuation pattern to mature, keeping our 25390 view intact. - Read moreDerivative outlook:
Nifty weekly contract has highest open interest at 26000 for Calls and 25000 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 25000 for Puts in weekly and at 26000 for Calls and 24500 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 11.07%, increased future index shorts by 0.87% and in index options, 34.79% decrease in Call longs, 21.15% decrease in Call short, 24.78% decrease in Put longs and 3.50% increase in Put shorts. - Read moreAbove views are of the author and not of the website kindly read disclaimer
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