Expect a very sharp uptick in Nifty50 due to short coverings and that expiry could be significantly higher from the current levels, said Sahil Kapoor of Edelweiss Securities. Excerpts:We are entering the F&O expiry week and if you look at the Nifty options structure, the call writing jas been quite strong at about 8,600 level. The range, which the stock had earlier maintained was a high of Rs 500 and low of Rs 390. In the short term, we are going see a large amount of inflows coming into midcap stocks. So there is some amount of resistance, which is coming in for the next one week.Therefore, we expect the market to remain in 8,500-86,00 range.

Source: Economic Times July 23, 2016 09:30 UTC