Market gave a strong bullish move towards the end of the session after a powerful bear trap at 5014 levels. Nifty also closed near the key level of 5085.
Options data saw heavy writing in 5000, 4900 and 4800 puts with unwinding finally seen in 5000 calls. There were also writing in 'in the money' puts of 5100 strike. All this is giving a very strong bullish indication.
Options data combined with pattern suggest a strong up move immediately till 5150 levels.
How to trade ?
Accumulate Nifty at each level for a target of 5150.
Resistance levels : 5092, 5136, 5150
Support levels : 5054, 5038, 5014
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