As a trader worst thing one can do is anticipating trend all the time. When a trader anticipates a trend but rather market does a sideways action if often frustrates a trader and often leads to take wrong decisions throughout the sideways phase. This week lets analyze the weekly sentimental data points from Nifty and Bank Nifty Futures.
From the weekly sentimental charts it is observed that the weekly sentiment turned positive for the Nifty Futures which is a sort of good sentiment as for as December expiry is concerned which could put nifty futures again in the zone of 8300-8500 range. Also option put writers are strongly betting on expiry above 8000 by writing 8000PE strikes and that brings more confidence that nifty spot could hold 8000 on EOD basis.
On the other side Bank Nifty weekly sentiment is still negative and expected to underperform nifty futures in the december series.
Markets are still trading in a compressed volatility mode and events like RBI Policy announcement and FED rate decision will try to elevate the market volatility a little bit.