Expiry Day Volatility Seen as Nifty Remains Rangebound: Analysts
The Nifty 50 index managed to snap a three-day losing streak on Wednesday, ending marginally higher. However, the rebound did little to alter the broader technical picture as the index remains within a tight 24,500 to 25,200 range. Despite this, analysts expect volatility on expiry day and advise watching for a breakout.
The Nifty 50 index has been oscillating within a narrow range for quite some time now, with no clear direction in sight. The index has been unable to break out of its 24,500 to 25,200 range, which has led to increased volatility and uncertainty among investors.
Analysts believe that this rangebound behavior is due to the fact that the index is currently at a critical juncture. The index is approaching the 25,000 mark, which is a significant psychological level. Additionally, the index is also approaching the 50-day moving average, which is another key technical level.
“The Nifty 50 index is currently at a critical juncture, and we expect volatility to increase on expiry day,” said a senior analyst at a prominent brokerage firm. “The index is approaching the 25,000 mark, which is a significant psychological level. Additionally, the index is also approaching the 50-day moving average, which is another key technical level.”
The analyst further added that the index is likely to remain rangebound until it breaks out of its current range. “The index is likely to remain rangebound until it breaks out of its current range. We expect the index to continue to oscillate within its current range until it breaks out of it.”
Another analyst at a leading research firm also echoed similar sentiments. “The Nifty 50 index is currently at a critical juncture, and we expect volatility to increase on expiry day. The index is approaching the 25,000 mark, which is a significant psychological level. Additionally, the index is also approaching the 50-day moving average, which is another key technical level.”
The analyst further added that the index is likely to remain volatile until it breaks out of its current range. “The index is likely to remain volatile until it breaks out of its current range. We expect the index to continue to oscillate within its current range until it breaks out of it.”
In conclusion, analysts believe that the Nifty 50 index is likely to remain rangebound until it breaks out of its current range. The index is approaching the 25,000 mark, which is a significant psychological level. Additionally, the index is also approaching the 50-day moving average, which is another key technical level.
The analysts also expect volatility to increase on expiry day. Therefore, investors are advised to watch for a breakout and not to get caught in the volatility trap.
