NIFTY has been rising since last few days and now have started into a consolidation zone.
The immediate channel it has formed is from 17650 - 17950. On 10 Jan, it could be seen trading within this range if opened flat.
If it breaks this range, it could be seen between the range 17400 - 18100.
Currently, Nifty is trading around 17800.
The last couple of days has been a bit of sideways creating a range from 17630 - 17940. The market could trade in this small channel sideways until it breaks this range.
As of now, the highest OI is at 18000 on the call side and at 17500 on the put side for the next week expiry. This will act as resistance and support...
