NIFTY expected to be rangebound

NIFTY has opened gap down today. Global cues are weak. There is EMA 21 support on 17730 levels on the hourly chart, at which it is currently trading. Max pain as of now is at 17750. Maximum call writing is at 18000 levels. Put unwinding has been seen above 17800 levels. Put writing at 17700 and 17600 indicates support at these levels. I expect NIFTY to trade between 17600-17800 for the day, and close near 17750.

DISCLAIMER: I am not SEBI registered advisor. Views are personal and for educational purposes. Please do not use these as benchmarks for trades.