New Delhi, April 10 -- A day ahead of ceasefire talks between the US and Iran in Pakistan, option sellers initiated trades signalling further volatility in the markets, a probability attested to by a veteran investor and a mutual fund top executive.

The trades, undertaken on Thursday, suggest markets may face upside pressure around the 24,000 level, with downside seen restricted to 23,500-23,000 levels through Tuesday, according to NSE data.

The 24,058 level is seen as a key resistance zone, coinciding with the 50% retracement of the rally from the multi-month low of 21,743.65 on 7 April last year to the record high of 26,373.2 on 5 January.

After a near 4% rally in the Nifty and Sensex on Wednesday, following President Trump's announc...