Nifty trading near its psychological support @10000 level and by analyzing the chart it is clearly seen that nifty is in sideways zone, so it is likely to trade between the range of (10000-10200) for the 11th june expiry. There is no clear indication of long trade or short trade confirmation.
On downside there is a major island gap of (9600-9700), that nifty may fill in upcoming weeks.
@rvbhatt, Thank x and what about 10200 call...Can I take a short position in this strick or do u think expert may come above 10200?
rvbhatt
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@Swapilchoksi, i don't prefer to short 10200 call because OI indicating bear trap for call writers though risky trade.
Swapilchoksi
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@rvbhatt, So it means u r changing your yesterday's view that NF expiry may come between 10000 to 10200...Please update ur updated view on Nifty... Thank x
rvbhatt
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@Swapilchoksi, if nifty breaches 10200 and sustains that level then only i will prefer fresh long positions
Swapilchoksi
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@rvbhatt, i think it was a bull trape instead of bear trape...10000 was strong support ... what about next expiry? which are the important support and resistance levels? Thank x