Price Action : Nifty opened slight gap-up and consolidated whole day around 23700 levels. Overall it was an inside candle day with sideways movement. 23800 was a resistance for the day. Price action was flat positive.
Trend: Nifty was sideways
Options Data: 23700 saw good Put writing and 23800 saw Call addition suggesting Nifty in a 100-150 point range. PCR improved to 0.78
Futures Data: FII Long/Short ratio was at 18% last trading session. Nifty Futures closed positively with addition in Open Interest suggesting bullish bias in immediate short term.
Outlook for Next Session: overall Nifty is Bearish. Might consolidate around 23600-23900 before any movement up or down.
Positons: Wait and watch with no positions. Buy on dips around 23500 for tgt 23700 or Sell around 23820 for tgt 23650 or buy above 23950 for tgt 24200+