Yesterday's markets shows that after opening at -5% it has showed some support and closed at nifty 2550. Though stochastic is at low the RSI is still at 45. RSI has to come down before markets goes up. Markets are directing towards 100% retracement to nifty 2250 and may form a double bottom. There RSI may be at a low for a good reversal of markets. Hence, markets may trade in green for December series for first 2 weeks. Target may be nifty 2850. As of now one can buy 2300 put even today. If markets goes up in F&O settlement pressures before touching new low one can check for put buying for this series settlement. Means, try for buying puts even on Tuesday. Expected closing for this series : if markets take double bottom then closing at nifty 2500 (bottom to top) else 2300 (top to bottom). Nifty OI + means shorts & FII F&O OI -ve means shorts. US down & Global down. Then what next down to down down.
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