Can a lower court in the US do others have not been able to do- which is kick this market out of a range? Gift Nifty is trading up but not so much as the market went down on the news of the tariffs- so, maybe, the market doesn’t believe this development much? Crossing of 24900 will be the key. Holding above it is necessary. Not difficult but the market has been unwilling. Lets see.
A positive signal could be the large Put shorts by FIIs at current levels of 24650-750. Created before the court verdict. So, someone there knew? No big addition in Call shorts. So, is market making way for going up? But throwing water on this expectation is continued shorting in index futures by the FIIs. That number keeps increasing every day. Not happy to see that. Are the put shorts indicating limited downside against these short futures then? Maybe. Asian markets positive since the morning. So we should keep a bullish bias for the day. Monthly expiry will impart its own tadka to the day’s moves so keep it restricted to day trades only, perhaps.

Results flows continue to be largely positive. So focus on those for trades. NVDA numbers were good in the US and the DXY moved above 100 once again. Should be slight positive for IT stocks for the day. SAIL results were good. So may act as a trigger for other metal stocks too.

For positional plays, the recent range will have to breakout. Until then, largely keep it to day trades.