The market offered no surprises today because it is closely clinging to that 5100 level and that is what is expected before expiry, said Udayan Mukherjee, Managing Editor of CNBC-TV18.
The trend has been pretty much the same with a dip to 5080 which was arrested quickly. It was partly because the European markets have stabilised today and that has helped the market climb back above 5100. So no surprises in the way trade has panned out today.
Also looking at the whole series which has gone by, it has been a series which has seen so much newsflow in terms of earnings, monsoon, and post presidential poll elect expectations, but the closure for the June series was 5150. We are now standing at 5100. The Nifty has just not moved at all and is down 1% for the July series.
The markets are probably getting ready for a pretty flat one. An interesting point now now will be in August, post the RBI policy as we get into that series with expectations which will be slightly diluted by then on the policy front.
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