The Nifty has been able to wrap a lot of traders in tangles, especially those who are anticipatory by nature and do not really listen to the message of the market.
WE know that if a market auctions below value and below VWAP, shorts would give you more profitable results than longs.
In the one upmove the Nifty made above 6120 levels to 6140, the delta was almost non existent and the reversal was quick.
With two full sessions left for expiry it does look like the future would finish between 6125-6140. That’s a bold statement and lots can change in two days, but we are never the kind who have shied away from giving our view of the market.
That in fact is the message we read from the market now and if things change we will let you know in tomorrow’s post.
The Bank Nifty looked and acted weaker than the Nifty today.There’s lots of algo activity in the Bank Nifty at the moment, working in set patterns, making trading this instrument a mechanical habit.
It remains to be seen whether it can stand up to expiry pressures.