Markets are trading calm compared to the Month of March, Apr, June 2020. Volatility cooled off and trading ranges get smaller and smaller. However, still, a reasonable intraday volatility persists in the markets.
Last 6 days of price action is contained mostly within 10660 on the downside and 10840 on the upper side. Monday’s price action ended with a clear failed auction with potential excess at the day high resulting in a Initial balance breakout failure.
Option writers for this series are expecting a 10600 – 11000 range for this expiry. Short term sentiment remains down for the last two trading sessions.
Monday session also ended with a balance breakout failure which ended with a potential trade setup towards 10660 levels in short term.