F&O Radar: Deploy Bull Call Spread in Nifty from a potential bullish bias

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Jay Thakkar recommends a Bull Call Spread, anticipating a close above 23,000. Broader markets saw volatility, but IVs have cooled.

Synopsis

The Nifty Index held 22,800, showing resilience despite a 1,000-point drop from recent highs. Analysts expect a bounce back, with a range of 22,800–23,100. Jay Thakkar recommends a Bull Call Spread, anticipating a close above 23,000. Broader markets saw volatility, but IVs have cooled.

The Nifty index has managed to hold on to 22,800 so far this week, which is quite a positive in the short term. Overall, the Index has fallen by more than 1,000 points from the recent highs of 23,807 levels, however, most of the Index stocks managed to hold on to their previous swing lows, and thus the breadth of the Nifty has not weakened much.“The Index has managed to close above 23,000 on the day of the expiry, hence there is a high

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