Hi Traders,
Nifty started around 5080 and moved to 5100 , got resisted and came back to 5080 by 10 a.m. made another dash beyond 5100 to 5110 level in the afternoon session and again came back to 5080 level.Around 1 p.m it again started its ascent from 5080 and took off to 5130 levels and day's high around 5140 was made around 3.15p.m.
If no particular negative news comes out , Nifty may target next big resistance zone around 5170 which is about 40 points away from today's close.Settlement week has only two sessions 24th Mon, 25th Tue.As the settlement week is short , volatility may start in the next week itself.There are two important market moving events. on 23rd Sun Euro Summit and on 25th Tue RBI Policy meeting.It is advisable to close out positions by 21st Fri. Trade on 24th and 25th, if you must. Otherwise enjoy the 4 day break and start the NOV series fresh on 28th Fri.
here is Nifty Option Chain on 14th Oct(Fri).
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