Nifty did bounce more than 300 points on expiry day. It was a very rare occasion where we could see most of the gain was retained despite high volatility. Since Nifty could close above 8555, we are likely to see some more upside till 8883 which happens to be the previous week high.
When nifty is able to surpass the previous week low and expiry numbers which are similar to hurdle race, nifty now is ready for pole vault to cross 8883.
The VIX is high not allowing CE holders to make money.
Range for the day: 8390-8883 BN 18800-21100.
Good Luck!
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