"The rollover data and slightly lower roll-cost suggest that meaningful declines could be bought into but the market range can shift lower with a capped upside after the recent price action," Chandan Taparia of Motilal Oswal Financial Services tells Moneycontrol in an interview.
The Vice President, Analyst, Derivatives, at MOFS, feels the Nifty needs to hold the 17,777 level to witness an upmove towards 18,250.
The Nifty metal index is trading near the life-time high zones and has a relative strength with bullish momentum. It witnessed some decline in the last four days, but the major trend is positive, says Chandan, with more than 10 years of experience in equity research.
What do you make out of the F&O expiry day data and what is your observation with respect to the trend in February, on the basis of monthly expiry?