Once the expiry is done and dusted, the process of price discovery begins again. Much will depend on how much of the existing long positions are carried over to the November series
The market is readying for an expiry today. The session has been far too volatile and the indices are tending towards the downside. Sandeep Singal of Emkay Global Financial Services joins CNBC-TV18 to give his outlook of the market today.
Observing that the 4,770-4,800 levels are be the most crucial levels being watched by the put writers, Hemant Thukral, head of derivatives research at SBI Capital Securities says if those levels break, there is 'big trouble' in the waiting.
The market has been trading in a narrow range since past few sessions. According Ashish Chaturmuhta, vice president of derivatives and technical at IIFL Private Wealth, it would be difficult for the market to sustain around 5,400 plus levels and it may dip towards 5,350 or lower levels as well.