After making record highs, major Indian equity indices have consolidated with the Nifty 50 index trading above 9,600. Options open interest data indicates a range between 9,400 and 9,700. With the India Volatility Index continuing to trade below 12 which reflects little anticipation of volatility in the near term, can traders expect a sharp move in benchmark indices or will they remain rangebound?
On BloombergQuint's Surf's Up, which tracks weekly trends in equity derivatives, Hemant Nahata of IIFL Wealth And Asset says the Nifty is likely move upwards. For more on what levels to bear in mind and stocks to watch, listen in.
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