Nifty, Bank Nifty traded very choppy and narrow.
Nifty index opened flat and remained range bound for most part of the session.
As long as it holds above 10276 it can extend its move towards 10440, while supports at 10222 then 10180.
Options data suggests trading range between 10200 and 10450.
Index VIX remained flat at 14.74. However, VIX needs to hold below 13.50-13 zone to get short term stability in the market.
Bank Nifty opened flat and managed to settle above 24750 on a closing basis. It finally negated formation of lower highs on the weekly chart and started making higher highs – lows since last 3 sessions.
Now, it has to hold above 24750 to extend its move towards 25000 then 25250 while support exists at 24500.