Nifty jumped hugely along with all world indices because of Greece bail out package. This is against to the F&O position buildup. FII data shows shorts covering, F&O data nifty showing short covering reducing the open interest hugely. Options writing as usual (very high put writing and call covering). However, we may not see continuation rally today. But this rise if crossed 20 day ema 5230 and further nifty has to touch 5424 in future before a big correction.
Nifty if closes above 5230 go further long with a stop loss 5200 target 5400.
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