Index likely to consolidate in range; Key support at 22,000-22,100
By Gaurav Arora
The March series Nifty futures is currently trading with a premium of around 90 points as compared to 150 odd at the start of the series. For the Index futures, FII Net Index Long exposure is at 40% which was at 35% at the start of series.
The Index is likely to consolidate in the range of 22,000-22,550 before any meaningful move for the remaining part of the month. 22,000-22,100 might be the immediate support and only a decisive close below it might bring in some downside.
VIX for the Nifty is currently at around 14 and likely to remain in the 13 to 18 levels implying a range of around 850 points in a month.
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