F&O Radar| Deploy Short Iron Butterfly in Nifty to gain from sideways market

The Nifty index has remained range-bound for three days, fluctuating between 24,150 and 24,350. Analysts predict a potential 200-point move if the index breaks out or down from this range. Positive put additions and call unwinding suggest a bullish short-term trend. Key resistance lies at 24,500 and support at 24,000. A breakout above 24,350 could push Nifty towards 24,500.