Day Trading Guide
Nifty remained consolidative for first four sessions of the week while a range breakout was seen on Friday. It failed to hold higher and stuck near to 8820. Occurrence of consecutive long Wicks and Doji on weekly chart reiterated the strength in the 8720 support. While a decisive hold above 8820 could extend its up move towards 8888 and 8970. Option activity saw incremental built up in 8800 PE while intact call writing at 9000 is keeping the restricted upside for the current series.