Feb Series – range bound

Vwap_Series

The Feb series is becoming flat lined as option players make merry.

We are seeing value area for the series which started 30th Jan as being defined between 6117 and 6037 now in a profile which is looking neatly balanced.

The vwap is placed at 6057 currently and is flat.

That in itself is an indication that the market is not moving out anytime soon.

Above current value high of 6117 F, the range extension should be limited to 6166 F Max unless there is a huge surge in volumes

Downside looks capped at 5948 F according to the vwap bands developing around the 6057 F pivot.

We had noted short rollovers in January at 6150/ 6190 range and they are currently profitable as long as price stays below those rollover points.

This week should be contained within the higher end of the range and only a lifting of those shorts later in the series if any can create upsides around expiry day.