Rangebound Expiry Expected - Rakesh Chandra

It looks like this up rally has still some more upside on Monday morning opening but it would find it difficult to sustain the upside. The higher side of Nifty is a shorting opportunity, and the lower side, short covering is the best trade idea.

This week, on an hourly scale Nifty future is bullish, so in the intermediate term consolidation cannot be ruled out. Technically, Nifty 4400 and 4150 area has consolidate first. So, call selling 4400 and and 4150 puts are good option strategies.

Upwave (0-1) WUT1: 4,426;

Nifty is bullish above 4,314.55) which is a weekly pivot point, and bearish beow 4245.45 which is a weekly pivot point.

Down wave (0-1) WLT1: 4,134.