Britain goes for Brexit Vote today. Its impact is unknown right now.
Its good that HDFC Bank results are on Saturday. I usually don't keep position on Friday.
Reliance Industry result is on 17 January which can cause volatility in Nifty.
Nifty right now is sideways. Its forming a triangle on all time frames.
Option writing is subdued. Future OI is also not suggesting any move right now.
Max Pain is stagnant for many days at 10800 with PCR at 1.12. Its slightly bullish and sideways.
Bank Nifty is bullish on all time frames other than 30 minutes.
Option writing was considerably more on call side. Future OI suggests long unwinding in last two sessions.
Max Pain is at 27500 and PCR is bearish at .70.
I will like to wait and watch for few hours before taking a position. On daily and 2 hourly charts we are bullish. It will not be a surprise if it takes support near daily charts between 27200 to 27350 levels.
As I said, bullish rallies are swift right now, so doing a wrong short trade will incur more losses as it wont give time for timely exit.