We are back in the range again, the range that lasted for almost a month in the previous expiry. Yesterday’s move shows clearly that NIFTY is no mood to cross 9670 and looks like its going to spend some time there. The global factors are not positive and that may weigh on NIFTY today. The biggest point is will 9600 be broken after the open?
Lot of put selling was happening yesterday at 9600 and that has a premium of 90 rupees now. So, the floor for the market seems to be fixed at 9520 levels. So, any dip towards that should be used as an opportunity for taking long positions and if you don’t have a long position till now, get one today itself!
|Figures in brackets are the yesterday’s prices.|