Nifty Futures Trading With high Volatility Today, F&O Expiry of August Series, Add Short Positions in Nifty Futures Below 4960

Nifty futures is trading very volatile as today is F&O expiry of August series. We are expecting the markets to extend the selling in today’s session. Yesterday we have seen the American markets trading positive also today the Asian markets are trading in green, For domestic markets may see some selling pressure in today’s trade. Yesterday’s trend may continue today and huge short positions are more likely to be added in F&O September series contracts. The closing that we have seen in last week advices us that it is now possible nifty futures to touch 4800 level in coming sessions. For intraday trading we will be looking for selling nifty on every up move below the pivot of 4961 level. So traders should be look for selling only, We are now bearish for intraday trading as nifty futures has been trading below the psychological 4900 level. Hence it gives us a big reason to take the short positions below the 5961 level for targets as 4844 as first target and 4802 as second target. Also it is recommended to trade with a protective stop loss above the 4965 level as this will invalidate the bearish trend for intraday positions. But we will have to be very careful as nifty futures has been trading with sharp moves in either direction. Traders must keep a watch on open interest data, even today nifty futures has added about 11 lakh shares in open interest a jump of about 8%. Today’s sessions may have large swing moves so traders must stay extremely cautious about their open positions. We are expecting some fresh short build up in today’s session once we move below 4841 level today, high risk traders can even take positions on Nifty 4900 put options near 35 level for intraday target of 55 and then 65 level. Traders must exit these positions if nifty futures manages to trade above 4900 level today.

At 10:30 AM (IST) Nifty futures is trading negative today down by about 19 points. Today’s trend should be mixed with bearish bias, as there will be volatile moves due to F&O expiry today. Nifty Futures trading with support resistance levels is below.

Resistance: 4899 / 4963
Support: 4846 / 4805

Sell nifty future below 4960 level for intraday target of 4844 and 4802 levels, we also recommend traders to place their Stop loss orders above 4970 level today.