Lacklustre august series expiration.
Nifty (aug) opened flat @ 4633 and traded the whole day in a very narrow range of 4655 and 4712 closing at 4688. Looking at the expiration today it was one of the most dull day with no trading opportunities arising. Nifty option data showed it has the highest call writing at 4700 and put writing at 4600 , trapping the market between a very short range of 4600-4700.
Our view on market is bullish expecting a breakabove 4730 and thereafter 4850 , unless a close below 4550 can change the whole scenario.
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