F&O traders eye 8,950-9,850 range

Mumbai: Nifty options sellers have priced in a 5 per cent move either side from 9,400 for the index through May 21. This means the Nifty would trade in an 8,950-9,850 range from its current level until next Thursday after the finance minister completely spells out the contours of the stimulus. However, a few analysts expect the Nifty to consolidate around the current level of 9,400 until the FM gives the details of the stimulus package in its entirety. “There will be stock-specific action but the index could hang on till full details of the stimulus are out,” said Rajesh Baheti, director, Crosseas Capital. Rajesh Palviya of Axis Securities expects support at 9,000 and resistance at 9,600 for the coming sessions.