1. U.S Markets closed lower yesterday.
2. Right now , U.S Futures are trading higher.
3. Asian markets are mixed.
4. SGX Nifty is indicating a gap down of 20-30 Points.
5. Yesterday markets were consolidating in whole of the first half.
6. Markets were finding resistance near 17800 zone.
7. After 3 pm markets broke out of 17800 and closed at te highest point of the day.
8. Bank Nifty was the outperformer as always.
9. IT Stocks have gathered some steam yesterday.
10. These are good signs for the Bulls.
11. For today expiry , 17800 straddle has highest OI.
12. It's combined premium is about 80-90rs.
13. So 17700 to 17900 is the immediate range.
14. U.S Markets for 2 consecutive trading sessions have closed lower.
15. Yesterday, markets opened with a gap down but this gap down has been grabbed with both the hands.
16. This shows that the trend is Bullish.
17. Monday , 1st of May is a trading holiday.
18. So next week expiry has just 4 trading sessions in it.
19. Nifty might trade between 17700 to 17900 today.