Hello, this is the first expiry above 20000 marks. Another fact is that it is going to be expiry near at all time high. I assume that there can be lot of stuck positions waiting to be covered. This can make the market volatile to highly volatile. I am not saying that range can be big but it will run with lots of odd swings. This can kill option traders.
Let us talk about the technical aspect. There is nothing to suggest that it can be corrected. Above 20120 you can expect 20200 kinds of levels. Remember, at ATH, it will be in a resistance-free zone. In the down side we can see lot of technical supports, one is at 20040 and then 20000 marks itself. I can repeat that as long as Nifty is above 19910 levels, it will remain in the firm grip of bulls with buyers waiting at lower levels.
Option traders, be carefull today and have a nice & profitable trading session.
