Nifty closed at 5276.85 (above 5250) with a moderate gain of 50 points. Now it needs to close above 5300. If Nifty able to close above 5300, a reversal may occur that push Nifty again around 5380 and 5400 level. Today, Nifty may trade between the range of 5210 and 5330. Infosys result/guidance may change the whole game.
From options data,,highest options base has been shifted to 5200 put and 5500/5400 calls. It is expected that Nifty may trade in a range of 5200-5450 for the time being. In any case, breaching of this range may lead 150-200 points in Nifty on directional bias.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
