So Nifty Closed above 8489 which was an important level...Closing above this means Bulls wants to close above 8540 on friday.
So Strategy should be if nifty trades above 8494 levels in the morning then go for long for spot targets 8512-8524-8538 then 8573-8585-8607
If it nifty trades below 8489 levels then targets are clear -8473-8466-8457-8441-8433-8421-8409-8389.
As of now trend seems to be bullish.... But Huge OI at 8500 CE levels (51 lac) and 8500 PE (30 lac) so lets see if Bulls add shorts on 8500 PE then for this series 8489 important level.
So Strategy should be if nifty trades above 8494 levels in the morning then go for long for spot targets 8512-8524-8538 then 8573-8585-8607
If it nifty trades below 8489 levels then targets are clear -8473-8466-8457-8441-8433-8421-8409-8389.
As of now trend seems to be bullish.... But Huge OI at 8500 CE levels (51 lac) and 8500 PE (30 lac) so lets see if Bulls add shorts on 8500 PE then for this series 8489 important level.