Nifty likely to trade in a narrow range of 5,300- 5,450

Nifty likely to trade in a narrow range of 5,300- 5,450

Golden Investment Research Private Limited

``The Nifty might continue to trade in a narrow range of 5,300- 5,450 levels. Short accumulation by FIIs in the index futures segment suggests some moderation in the momentum going forward.

Closure of long positions was observed in Nifty February futures as open interest declined to 25.25 million shares from 26.24 million shares.

Among Nifty February call options, maximum positions are accumulated at 5,500 strike with an open interest of 6.98 million shares .  Among Nifty February put options, highest open interest in concentrated at 5200 .

It is followed by an accumulation in 5300 strike with an open interest of 6.78 million shares (Rs36.23 billion).Nifty put-call ratio of open interest has declined to 1.41 levels from 1.45 levels. 

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