Nifty bounced back on the expiry much to the expectations. The target of 10990 on Nifty is likely to be hit while the BN targets have already been met.
This is the effect of triple bottom formed in Nifty - 10583, 692, 756 during the last 3 weeks. As the Nifty is above 10756, one should not short nifty and should go long.
At the same time a weekly close below 10756 in the course of next week indicates trend reversal. Before that we should also mind the high formed during this week which is also very critical.
All in all, a positive outlook for index.
Options strategy given for members to make entry and exit at the suggested prices.
Good Luck!!
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