Synopsis
Nifty’s range next week based on the 13,700 call and put value is 13,476-13,924. The index closed up 1.1 per cent at 13,749.25 at the end of the holiday shortened week.
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December 31 expiry Nifty options’ put call ratio was 1.49, implying more put than call selling, a bullish indicator.
MUMBAI: The Nifty could move toward a new high of 13,924 if it breaks and sustains above the record high of 13,777.50, having come within kissing distance of it intraday on Thursday, derivative data show. Some analysts are not ruling out a dip before the market makes a tryst with a new high.