Street signs: Nifty seen in 9,600-11,000 zone in July, LIC IPO, and more

Nifty seen in 9,600-11,000 zone in July

The Nifty ended the June series with gains of 8.4 per cent, with some long positions getting rolled over to the July series. The rollover in Nifty stood at 78.9 per cent, higher than its quarterly average of 69.7 per cent. The options data suggests a trading range of 9,600-11,000, with the possibility of an upmove towards 10,800-11,000 levels. Analysts believe the downside is limited considering aggressive put writing at 9,800-10,000 levels and easing of the India VIX to near 30 levels. However, 10,500-10,700 may act as a strong resistance going forward, considering