F&O Radar | Deploy Short Iron Butterfly in Nifty for gains from a range

The Nifty has rebounded due to short covering, facing resistance at 23,800. PCR fell to 0.85, indicating call writers' dominance. Key levels: 23,700-23,800 (resistance), 23,500 (support). India VIX dropped to 14, reducing volatility. Jay Thakkar recommends a Short Iron Butterfly strategy, citing sideways-to-positive market trends.