Mid-day update

The markets opened this morning in range of yesterday and near value always an indication that not much of the sentiment changed from the previous day.

So yesterday we had a move up in the first hour, followed by a move down and then side-ways action.

We have a repeat today.

The BN has become even more quieter.

Above value high at 12740, we may see strength.

The side-ways consolidation is good for option writers, partcularly those who have written the 6200.

No real weakness till 6160 is protected. Up above the seller sits at 6225-6248.