Nifty Futures IB is 200 points (22006–22806). Nifty is currently in an open auction within this range.
There are good chances of failed auctions on the higher side. NF high is 23031F. A failed auction (FA) will be confirmed if Nifty Futures trades below 22806 again. If that happens, the IB range could extend 200 points lower, targeting 22606F.
At the same time, Nifty Spot has a previous FA level at 22542 from yesterday, which is likely to be revisited within the next 5 sessions.
Bank Nifty formed an abnormal big round-number low at 51400, which should get resolved within the next 3 sessions.
