morning thoughts... 

As said the markets opened gap up for the short squeeze and perfectly saw the resistance at 17200 in nifty and 37800 on bank nifty and closed below the daily moving average of 17115 indicating a move towards 16800 and 36800 in the coming session for expiry 

Technically the range mentioned is playing perfectly providing opportunities to both long and short traders with buying supports and selling resistances

However a certain trap now lays ahead which will dramatize in few sessions with a sharp edge for markets

Commodities remains a buy on dips and sell on rallies in base metals, energy and bullions

Our tuesdays nifty longs at 16900 for 17200-300 gets booked at ist targets and resistance of 17200, a move of 300 points in one day

Mcdowell 830 ce triples from 12 to 36

Bank nifty ce moves to 750+ , a gain of 250 points

Fo chola fin does 700+ , a move and gain of 45 rs 

A high laid opportunity for march series seen in current volatility for stocks and options as vix rises

Nifty 15800 or 18000..? 

Bank nifty 35700 or 39500..?