Nifty Outlook by Epic Research

Nifty-Nifty ends down marginally as it continued to consolidate in a small range. A very small range-based trading is seen in Nifty since last week Thursday. This is the fourth consecutive day we are seeing this range to continue that is of mere half a percentage.

This indicates there is muted demand or supply at this point in time and we may see some move coming in as soon as the breach of the range is there. Since tomorrow is the weekly expiry we believe there can be some volatility in price action.

As per derivatives data, we are seeing the highest concentration of Open interest at 12000 – 11800 indicating short term support at these points. A breach of these levels shall dictate a new trend for nifty.

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