Nifty to recover towards 18400-500 level; F&O traders can short straddle: ICICIdirect

From a data perspective, during the recent recovery, the Nifty saw closure among short positions as FIIs closed their shorts last week. Moreover, the prevailing high Nifty premium has declined considerably in the last few sessions and is just close to 20 points ahead of the monthly settlement. However, aggressive Call writing is continued at ATM and OTM strikes which may act as an immediate hurdle. However, acceleration might be seen if Nifty can move above 18,200 levels.

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