Seasoned traders say the number of traders looking to make a quick buck on expiry day has been steadily rising over time. The NSE has weekly options contracts expiring on all days except Friday, and the BSE has a weekly options contract (Sensex) expiring on Friday.
Sudarshan Sukhani of s2analytics says investors should long Nifty and Bank Nifty with a stop loss of 8450 and 18300 respectively.
The market is clearly exhibiting signs that it is a market, which is in a no-trade zone. If you are a compulsive trader then maybe you can sell Nifty Options and hope to make money with very strict stop losses. Anuj Singhal of CNBC-TV18 has more details.
According to Paul, if someone wants to go short on the Nifty or the Bank Nifty he must trail the stop losses on the downside and wait for 6120, where one can book some profits.
Anil Manghnani of Modern Shares & Stock Brokers, explains to CNBC-TV18 that the market‘s next break-out would be above 5,150. He terms the performance of cement stocks as a case of playing catch-up after reaching lows in previous sessions.