Street signs: Markets turn range-bound, block deal activity rises & more

Markets turn range-bound
 

The benchmark Nifty is expected to remain range-bound but can whipsaw on account of the expiry of March series derivatives contracts and the financial year-end churn. “Volatility may pick up again because of rollover activity and quarter-ending fund rebalancing. But with Nifty futures open interest declining towards 10 million shares once again, declines seem to be limited,” said ICICI Direct in a note. The brokerage said the options data suggests that the Nifty has strong support around 17,000 and then 16,800, which can act as a stop-loss for those initiating long positions. The Nifty on Friday ended