Nifty futures today touched a low of 10353 and we all know it is an expiry week move. The low in nifty future did not test the 10300 CE's bottom level till noon. That was a confirmation for nifty to bounce back at any time during the day. It did. Not only that, it also closed above previous day close to confirm further up move in nifty in the coming days.
Bank Nifty crossed the hurdle of 25867 today and moved above 25900. The next hurdle is 25975 which must be crossed to go beyond 26200.
Our followers have already picked Nifty CEs when NF was trading around 10360 in the morning. ALl positional trades which can easily double before expiry.
Nifty futures immediate target 10453. Huge OI in 10500 CE is a point of worry and it is likely that Nifty may close between 10400-500 range. This will coincide with BNF closing below 26000 as RBI policy plays a crucial role in movement of BNF. Clinching 26500 in this expiry is a wild guess.
Be long in this market and catch move up move with tight SL.
Happy Trading!!!
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