The sentiments are weak from global markets as the Dow Jones closed dpwn by 0.38 %. Most of the Asian markets opened negative in early trade. Indian markets are likely to open flat with negative bias as SGX Nifty Future is trading in negative teritory. Nifty is likely to trade with volatility due to F&O expiry of July series.Yesterday, Nifty has seen profit booking due to bad result posted by RIL and global cues and has given closing below 5400 mark. In August series, 5600 call and 5300 put have seen good addition indicating a higher trading range for the Nifty in the near term. Nifty is likely to trade range bound between 5350 on lower side and 5450 on upper side. Option data suggest that Nifty could give the expiry of this month series at around 5400. Our view is cautious- negative.