Explore Now Nifty and Bank Nifty have failed to break past that gap down, which was created post the Monday selling and that has really hurt the sentiments for the indices, says the independent market expert Kunal Bothra. Excerpts from an interview: We had a scary Monday and since then we saw a steady rebound coming in. Is the rebound enough for us to not test Monday’s lows of 14,320? We saw more of a repel trade or a repair mode in the second half of the week. The Monday selloff put in quite a dent into the indices. If you look at the momentum, there is hardly any major build up of open interest, except for Thursday when the markets opened after a one-day holiday. You saw a jump in the open interest on the Bank Nifty but other than that, there is hardly any major position sizing that has built up into the indices, which means that the market participants are expecting that the index could remain more or less in a range.