On friday, bulls took charge with a gap up and also closed Nifty above 5100 levels. Though the move till 5150 did not happen, markets have opened gap up again today and have reached the initial target of 5150 levels.
Option data is indicating an upmove, but since the accumulation in 5100 puts is less, there might also be a move towards 5100 levels during intraday before bulls can take control again.
How to trade?
Accumulate Nifty at every dip today for a target of 5200 levels.
Resistance levels : 5150, 5165, 5210
Support levels : 5115, 5098, 5065
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