Back within the range is where we are now, with the Nifty having rebuffed the offer to go lower. Everyone expected a better outing than it was but for now, I suppose, bulls will be happy to take what they get. Tomorrow is holiday and it is also the deadline for the tariff stuff. Maybe market will want to see that off before setting off any which way. So, today could be yet another day of dullness.

If Nifty can sustain above 24920 then bulls would be in with a chance to continue higher. But as mentioned earlier, the real deal is in crossing 25250. Till then no battles are won. But after a long while, we saw futures add some long OI yesterday, which was a surprise. PCR is 0.77 as call shorts were added more than Put shorts. Premiums are slightly higher so there is a chance for premium decline thru theta erosion if markets go nowhere today.

Some volatility likely in the last hour of today owing to the adjustments of changes in the MSCI index. The expectation is that there shall be a net outflow on this rejig and hence there could be some limited pressure. Eternal is a big name in this exercise where downside pressure may be looked for.