NIFTY would open positive today, as we can see in the chart after too many sessions of consolidation, it has formed an Ascending Triangle which calls for a breakout anytime soon. The chances are it will breakout on the upside considering the below mentioned points. 1)OI rise in 10000 put. 2)Strong OI base in 9700,9800,9900 put. 4)MIN PAIN area is too much on the down side. 3)No weak Global Cues.
The market would still be in range though between 9860 - 9988 and till it breaks out on either of the sides. Currently its a buy on dips market.