The settlement of January series is due on Jan 25 and the markets will remain closed on Jan 26.
It seems that much of the positions have been squared off already and the tight squeeze took Nifty to 8480.95. Therefore it cannot be concluded with fair certainty that the resistances of 8414 and 8458 have been successfully conquered.
The day traders may go long in Nifty futures if the spot Nifty trades above 8455 to book profits when the spot Nifty is at 8505. On the flip side they may short the Nifty futures if the spot Nifty trades below 8440 to cover them when spot Nifty is at 8409.
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Equity benchmarks extended gains in morning trade, with the Nifty reclaiming 9550 level ahead of expiry of June derivative contracts.capitalstars
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