Why NIFTY Witnessing RANGE Bound TRADE?

Why NIFTY Witnessing RANGE Bound TRADE?
All Levels & Measurements plotted in Chart.

Option Analysis:
HIGHEST OI Addition in 9900 CE: +159,675
HIGHEST OI Covered in 9800 CE: -295,725
Next to HIGHEST OI Addition in 9750 CE & 9950 CE: +154,800 & +120,750 respectively.

HIGHEST OI Addition in 9600 PE: +356,025
Next to HIGHEST OI Addition in 94000 PE: +177,525

In "IV" Analysis:
When IV of CALL Option is ranging Between 6.39 (9700 CE) to 7.57 ( 10000 CE)
Then IV of PUT Option is ranging Between 10.82 (9650 PE) to 12.68 ( 9400 PE).
Conclusion:
LIMITED UPSIDE.

Study Purpose Only.
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