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

03-10-2024 10:45 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:

While playing for pull back moves on Monday, we had limited our expectations to 25945. Incidentally, Nifty only had to peek above 25900 inorder to attract bears. However, we are not convinced yet that the pull back trades are over, and prefer to extend upside expectations to 26150. Alternatively, inability to finish the day above 25970 could signal that the 25600-24600 plunge that we had pencilled in, early in the week, will now get a higher base to launch. - Read more

Derivative outlook:

Nifty weekly contract has highest open interest at 26000 for Calls and 23050 for Puts while monthly contracts have highest open interest at 27000 for Calls and 26000 for Puts. Highest new OI addition was seen at 26500 for Calls and 25000 for Puts in weekly and at 25800 for Calls and 25000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 3.26%, decreased future index shorts by 5.62% and in index options by 26.14% increase in Call longs, 12.12% increase in Call short, 37.01% increased in Put longs and 20.44% 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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