"The Nifty is likely to trade in the range of 5,440-5,530. The trading strategy would be to create long positions if the Nifty takes support at around 5,450 levels for targets of 5,485 and 5,520. On the other hand, one can also create short positions if the Nifty resists at around 5,530 levels", said ICICI Securities.

Markets traded in a narrow range throughout the session and finally closed flat. FIIs were net buyers in the stock futures segment to the tune of Rs 1.31 billion. However, they were net sellers in the cash segment to the tune of Rs 2.30 billion.

On the Call side, we saw unwinding at the 5,200 and 5,300 Call to the extent of about 5,400 lots. We also saw unwinding of 5,143 lots and 4,196 lots in the 5,400 Call and 5,500 Call, respectively. On the Put side, we saw additions in the 5,300, 5,400 and 5,500 Put to the extent of 34,765 lots, 13,948 lots and 13,701 lots, respectively.
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