Nifty Today if Market open above the 12200 we may expect to move up, try to form an triangle. or if it takes an support in 12150 again it will move up to resistance.
When it break the support 1 and it will move to support 2
Expiry
USO Weeky options expiration follow upToday was another options expiration day and with it comes some interesting information about current market structure and where the smart money might be leaning going forward. While there was no 'freebie' Euro close rally into options expiration setup today (because Russian news keeps bidding price up) it was very interesting to see how 'they' closed USO out at 11AM pst at 37.45. This meant that the $37.50 calls all expired worthless and the same puts would automatically exercise. Because I believe the street has a net long exposure (off the imbalance of the $37.00 strike) there was incentive for them to bring prices back down in order to cover those short positions. Additionally, the rather large spread trade (1700 contracts at $37 & $38) coupled with geopolitical tensions made this week's reading a bit murky at best.
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