Over near term, Ashish Kyal expects rangebound movement between 21,840 – 21,420 for the Nifty 50. Break of this range can provide trading opportunity in that direction.
In the options segment, aggressive writing was seen at 19200 and OTM Call strikes for the coming week while Put writing remained relatively lower. Thus, closure of positions at ATM strikes may be considered as a first sign of covering in the market.