Nifty - Currently in a tight range. Wait for Breakout
Pretty self-explanatory from charts. Currently trading in a range. Since it is expiry today there might be movement on either side if Nifty breaks the range towards the end of the session as either it will lead to short covering on the upside or long unwinding on the downside.
For that to happen it should consolidate in this range for a couple of hours in the morning.
One can see from the FII option data yesterday also that they have bought both puts and calls which means they have gone long straddle so possible there might be some movement today.
For that to happen it should consolidate in this range for a couple of hours in the morning.
One can see from the FII option data yesterday also that they have bought both puts and calls which means they have gone long straddle so possible there might be some movement today.
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