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Below the Quote on F&O Expiry by Mr. Chandan Taparia, Senior VP, Equity Derivatives & Technicals, Broking & Distribution, MOFSL

Nifty index has been moving in a narrow trading band of 250 points from last four trading sessions. It made a new life time high of 23664 marks on Wednesday but the pace of buying is lesser in the market. It formed an Inside Bar pattern in daily scale and finding narrow trading band as momentum is lesser due to lack of next triegger. India VIX corrected in last 2-3 weeks but slightly rising from last two sessions. Now till it holds above 23400 zones, major trend remains intact for an upside move towards 23750 and 24000 zones.

Volatility has been slightly on the rise from the last three sessions which is causing a bumpy ride on the upside direction. On option front, data suggests a broader trading range in between 23200 to 24000 zones while an immediate range between 23400 to 23700 levels.

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