The Nifty has been consolidating within a range for the past four days, and with today's expiry, we can expect increased volatility. The following conditions apply:
Condition 1:
If the market opens with a gap up and holds above the 24,700 level, we can expect an upward move towards the 24,880-24,900 range. However, if the market fails to maintain the 24,700 level after the gap-up, it may slide downwards.
Condition 2:
If the market breaks down in the first half of the session and we see buying support around the 24,500 zone, this will be an ideal level to enter long positions.