Nifty Futures September expiry kick-started with high volatility. Short term quick flip signals turned positive with immediate supports coming around 11655 levels. Price holding above 11715 levels will bring renewed buying pressure. Price holding above 11715 levels has to be watched on the closing basis
Upside so far remains capped around 11820 levels. Possibilities of consolidation in the market in this zone in a very short term.
Nifty daily sentiment maintains negative for the 3rd trading session. Option Writers are no so concrete in their decisions at this time as the series itself young. Call writers are defending around 11800 levels on the higher side. On the downside put writers are currently active at every possible downside levels.
Overall market is likely to consolidate around 11700-11800 in a very short term. Current short term bias holds positive for time being.
