OI in Nifty futures still hovering around the 19 million mark making it difficult to sustain upsides [1.2 million added as we approached the Europe Open session]; VIX surprisingly cool [now well below 20!!]
Would again like to remind readers that OTM option straddles / strangles may not be very fruitful as long as Nifty is trading within a tight range of 200 points and that too, in a grinding fashion
Critical Levels and Outlook remain unchanged for both Nifty and BankNifty;
As far as trading is concerned, option writers still continue to rule the roost and for investors, corrections are good to buy into for deliveries; as of now, I still feel it is difficult to go below 5032 on closing basis on Nifty for May series but markets have their own ways...... ;-)
For tomorrow let us enjoy the May Day..................
Would again like to remind readers that OTM option straddles / strangles may not be very fruitful as long as Nifty is trading within a tight range of 200 points and that too, in a grinding fashion
Critical Levels and Outlook remain unchanged for both Nifty and BankNifty;
As far as trading is concerned, option writers still continue to rule the roost and for investors, corrections are good to buy into for deliveries; as of now, I still feel it is difficult to go below 5032 on closing basis on Nifty for May series but markets have their own ways...... ;-)
For tomorrow let us enjoy the May Day..................
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