NIFTYBANK - WALL OF EXPIRY

Niftybank, as expected held the strong supply zone 38400 only to retreat towards 37800 the support zone. Continue to view this range vital on close basis for next directional call. With very little to infer from overseas clues local dynamics continue to play. Being expiry day the hurdle would be the positioning there. By some standards the moves on expiry day would be contrary to what the next day action. Shall this be the clue to start new trade or stick to the range. Favour sticking to the range for now.