Maintain cautious outlook on Nifty - IIFL

Markets continue to be in range with Nifty rebounding from the 50% retracement support for entire up move (5,664 to 5,971). The only remedy for trading such non directional move is to wait patiently for breakout or breakdown from levels of 5,970-5,818 levels. However since broader direction for the markets so far has been on negative side we maintain the cautious outlook.

Sensex March future which shed 33525cont in open interest has seen long unwinding.

On option front, Sensex Mar 20,000strike call which added 8100cont in open interest has seen buying, while put buying was seen at Mar 19,400strike which added 2535cont in open interest.

Source : Equity Bulls

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