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Nifty Monthly Expiry expected between 18000 and 18500

The Bulls are surely not giving it up easily. Despite pullbacks and shorting opportunities, Nifty is trying to sustain above the crucial 18300 mark.



As per our chart levels, if Nifty sustains above 18325 levels in today's trading session, the index may inch upwards to the 18460 mark. On the downside, the crucial support remains around 17980 to 18000 zone.



As per open interest data, we expect the monthly expiry of Nifty to be between 18000 and 18500. With Vix around 17.5, descent premiums give us the opportunity for an Iron Condor trade.


TRADE IDEA

- Pitanjal Dutta

(pitanjal@duttanalytix.com, Twitter: @PitanjalDatta)


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