Nifty: Microsoft is Planning to Invest in Reliance JIO following Facebook

4:30 Closing Market Analysis & Update:- Nifty Open- 9234.05, High- 9277.85, Low- 9175.9 & Last- 9201: Like yesterday, Nifty has continued to move sideways and erode premium on strikes, Only Media & PSUBank indices are ub Green while FMCG, FinSevice, Banks, Energy are all down around 1%. Infratel, IndusInd, AdaniPorts, OFFS & M&M are all up over 3% while Pidilite, ONGC, Havels, NTPC & Berger are all losers above 3%. Europe trading in green & US Futures are also trading up.

Microsoft is planning to invest in Reliance Jio following Facebook is a huge push for the company that made it move from 1460 till 1498 levels that is adding to keep the Market in positive terrain while Nifty is clearly lacking clarity on trade with such swings and unless we have a closing either above 9318 our markets may not be directional and will continue to trade sideways tomorrow with ranges being 9074 - 9410.

Unless are yet to have a clear trend visible at closing we may see 9100 PE, 9150 PE and 9350 CE& 9300 CE strikes becoming zero.