The Nifty needs to hold above 17,717 zones to witness an upward move towards 17,850 and 17,950 zones, according to Chandan Taparia of Motilal Oswal. On the downside, support is placed at 17,620 and 17,550 marks. Volatility has sunk to hover at its lower band, with options data suggesting a shift in the trading range between 17,500 to 18,000 zones. The PCR Ratio for Nifty settled at 1.01, indicating a mildly bullish trend. However, immediate support is around 17,650-17,600 levels, warned Nagaraj Shetti of HDFC Securities.
