26-09-2024 09:32 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 the regrouping of bulls evolved on anticipated lines yesterday, the close below 26060 does not leave us with much upside momentum. Expect positivity initially though, with dips likely to be bought as long as above 25970. Favoured view however does not expect large upsides. In fact, inability to make much headway beyond 26060/100 or a slippage below 25930 could let the bears in. Caution advised. - Read more
Derivative outlook:
Nifty weekly contract has highest open interest at 27000 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 26600 for Calls and 25900 for Puts in weekly and at 26600 for Calls and 25900 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 4.53%, decreased future index shorts by 18.27% and in index options by 14.61% decrease in Call longs, 7.09% decrease in Call short, 20.99% decrease in Put longs and 9.08% decrease in Put shorts. - Read more
Above views are of the author and not of the website kindly read disclaimer
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