Today was the most boring day for positional traders as we end up nowhere by the end of the day. We can call it a trap day for intraday traders as both bulls and bears were trapped at least once during the session. Traders are in confused state of mind for near term while expiry players are building base on 7200 PUTS as support while resistances are 7500 and 7700 on the call side. Technically markets are overdue for correction but before that we may see some bounce back but than we are expecting profit booking before 31st March. We can expect some high volatility ahead in the month. Though i would sell on rise as i am expecting a downside any time this month after a strong recovery from budget lows. Today’s candle has no clue which side it stands for, so monday opening shall be crucial after FED meet tonight. So finger-crossed till monday.


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