Monthly EXPIRY DAY: Expected Nifty expiry between 16,600 and 16,650; opportunity for both buyers and sellers, says Anil Singhvi - Watch DOW Futures ahead of Jackson Hole meeting

The August series has been full of surprises with many ups and down in the stock markets, though the VIX (Volatility Index) has not reflected that. At the start of this series, Zee Business Managing Editor Anil Singhvi had warned the investors about the likelihood of volatility in the domestic markets. The Market Guru has some more useful tips for the investors and traders on the Monthly Expiry day today. He explains what lies ahead today.  

The Managing Editor said that there is a very clear-cut data on this now which suggests that the Nifty expiry is unlikely to be beyond the range between 16,500 and 16,700. The highest open interest on ‘Put’ is at 16,500 while on ‘Call’ it is at 16,800. The open interest at the former is around 69 lakh shares while at 16,700, it is 68 lakh shares, which is more-or-less same, Singhvi added. 

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At Nifty 16,600 Put, the open interest is of 50 lakh shares while at 16,500 Call, the number stands at 29 lakhs, he further added. 

The chances for monthly expiry appear strongly to be in the range between 16,600 and 16,650. This is as per the latest data.  

One must also carefully look at the way Dow Futures performance today and tomorrow, Singhvi added. On usual days, it would not have mattered much, but this time it is different, the Managing Editor said.  

There is a meeting at Jackson Hole, Wyo where some of the world's most powerful central bankers will meet virtually this week for an annual gathering and this will be a big event, Singhvi highlighted. 

There will be a direct correlation between the Dow and the domestic markets. The movement in Nifty is expected to be almost similar to the Dow, he further said. 

He said that the traders must not worry too much if the Nifty falls by 30-40 points below 16,600. There will be a slight resistance at 16,590-16,600. Any weakness in the markets will arise only if this level is breached, he added. 

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अगस्त सीरीज की एक्सपायरी आज, कैसा रहेगा एक्शन?@AnilSinghvi_- डेटा के लिहाज से आज 16500 के नीचे और 16700 के ऊपर एक्सपायरी की संभावना नहीं, 16600-16650 की रेंज में हो सकती है एक्सपायरी

दोनों तरफ के मौके मिलेंगे, पहले सपोर्ट लेवल पर करें खरीदारी और ऊपर खुले तो मुनाफावसूली करें pic.twitter.com/O2A2OxmDm5

— Zee Business (@ZeeBusiness) August 26, 2021

There will be an opportunity for both buyers and seller, he said. One must not miss the opportunity to buy at levels near the support. Also, if the markets open on a high, we could also see some profit booking, he further said, adding keep an eye on levels.