The markets continue to trade in a very tight range from past 2-3 days and the consolidation phase may continue in the truncated week with a pre weekly expiry on Wednesday
Technically the markets ought to be week and may test 17500-400 on nifty as maximum open interest stays at those levels with call writers at 17800, above which a fresh upmove can be triggered
Bank nifty also remains under pressure and may see 37500-200 with the same pattern as of nifty
However the candlestick and Fibonacci do not implies major shorts at the levels as the markets are in consolidation phase and may reverse ahead of expiry
So the markets are likely to be choppy and volatile with stock specific action
Last week and month we had concluded our mega jackpots in bharti airtel, ntpc, nmdc, tata power
We are again in a setup for positions in movers of april-may in stocks and options
Nifty and bank nifty has a bigger setup for next 90 days
Will nifty do a 21000..? Bank nifty 45000..? Or a slump..?
We are getting into out of money otm options for nifty, bank nifty and stocks in advance for the probable setup and move
Commodities looks vulnerable for a sell on rise in bullions, base metals and energy
Out of money otm options for nifty, bank nifty and stocks in advance for the probable setup and move
