Since the last week, writing in both 10,500 put and 10,700 call have been observed which indicates sideways movement in expiry week.
The markets staged a smart recovery from lower levels. The Nifty regained the crucial level of 10,550, led by short covering. However, call writers are once again seen active in 10,700 strikes, which will restrict the market’s upmove further.
However, in the last two trading sessions, call writers were more active compared to put writers which signals limited upside in the market ahead of expiry.