Short Nifty Expiry Day - 27-Jan-2022
17000 PE writers might be trapped at opening and would look to cover.
Look for reversal oppurtunities around 16850-16860 around previous day low
If Previous day Low not sustained, pyramid on the shorts
BankNifty has traded well bullish for the last 2 sessions, the upmove was led by private banks which are Advancing & trading above previous day highs. After such a sharp upmove, expecting some cool off now. However, 37000 Call have highest (22 Lakh) Open Interest , which if broken with a gap up can lead to further rally upto 37600.
Downside highest open interest...