The reopening of economies in some of the parts of world had helped the market to move higher. However, market participants are not fully prepared for this change and therefore indices are becoming volatile. The US futures turned up during the session by 1 per cent and that has compelled the short sellers to cover short-selling positions towards the end.
Weekly option statistics suggesting us that the Nifty to remain between the levels of 8900 and 9200. During the day, holding above the level of 9070 would help the market to move higher towards 9200 with a major hurdle at 9110 and at 9160. Avoid creating long positions at 9200 levels.