Yesterday bulls took market under control and the bullish bias mentioned in the post surfaced and took Nifty to 5300 levels.
Options data towards the end saw unwinding in 5300 calls and more of writing in 5300 puts indicating a continuation of the strong bullish move of yesterday, with an immediate target of 5333.
There may not be a sharp rally from here towards the monthly target of 5462, and market is likely to fall back into consolidation again before moving forward.
How to Trade?
Remain in long for a target of 5334 levels.
Resistance levels : 5312, 5321, 5334
Support levels : 5270, 5250, 5233
No comments:
Post a Comment