nifty gap a small gap up to flat opening and tested the resistance label of 18050 in the first candle itself to bounce back and attain targets of 18092,18136,18169. then it stayed in the resistance band of 18138-18169. the closure seems to give mixed signals with18138-150 remaining a strong support downside. however with an eventful US calendar (PPI, DIX bearish), a flat to gap down opening is expected. Also index management is a distinct possibility on account of expiry
in case of gap down opening a retest at 18140-150 levels could be a case for PE with SL above 18160. Down side target could be 18060/18009 and 17932.
in case of gap up opening a retest above 18175 is a must for thinking of CE side trade. and in such case the targets would be 18200/18232 and 18300, on account expiry.
in case of gap down opening a retest at 18140-150 levels could be a case for PE with SL above 18160. Down side target could be 18060/18009 and 17932.
in case of gap up opening a retest above 18175 is a must for thinking of CE side trade. and in such case the targets would be 18200/18232 and 18300, on account expiry.