Nifty 50 is ready for a second consecutive positive expiry, must maintain these levels
17,915 is the level the Nifty 50 must close above in order to ensure a second consecutive positive F&O streak.
Today’s session will mark the expiration of May Futures & Options (F&O) contracts for Nifty 50 and Nifty Bank. The benchmark 50-stock index is on course for its second consecutive gain in the F&O series. After gaining over 800 points in the April series, the index is up 370 points so far in May ahead of the expiry session.
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While expiration volatility may or may not trim some gains, the index is unlikely to fall below the 17,915 mark it closed the previous series at. This would be the first time since October-November of last year that the Nifty 50 has had consecutive positive expirations.
The sequence of Nifty 50 highs and lows broke again after two trading sessions as the index was unable to cross 18,400 intraday, hitting an intraday high of 18,392. Even the most intraday low of 18,262 was well below Wednesday’s low of 18,324.
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