Normalcy restored. Nifty after hitting the top 4500 closed at 4318. A big rise and a big correction. Huge writing at 4000-4100 puts and 4200-higher calls. Range will be around 4200. But market may test 4050 also. Whether it is in this settlement or in the next settlement?.
Fresh shorts were added at the higher levels. Premium are very high. It may take one - two days to come down to normal rates. Then we can have a good trading opportunity.
Aim is let the market come down to 4100 then buy calls 4400.
Nifty levels for the day:
s1 =3990 s2 = 4154 pivot = 4332 r1 =4495 r2 = 4673.
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