Buy NIFTY (09 MAY EXPIRY) 11,600 PUT at 69
TARGET: Rs 120
STOP LOSS: Rs 35
- Short build up is seen in the Nifty Futures’, where we have seen 13% rises in Open Interest with NIfty falling by 0.70%
- We have seen aggressive call writing at 11700-11800 levels(Weekly expiry).
- Nifty fell more than 150 points from the resistance level of 11800 to close below its 5 day SMA.
- Oscillators and Momentum Indicators like RSI and MACD Indicating weakness.