NF closing below 5840-50 level for nearly 3days now ( except yesterday) ,does it indicate some more downside.Breakdown of 5700-10 level will lead to bigger fall.
As today we have inside day n lower volumes as compared to yesterday, so lets see what market has in mind ..either breakdown or reversal ??
On Options Open interest front Calls adding Hugh OI
5700 CE = 28%
5800 CE = 33%
and 5800 PE = - 7%
5900 PE = - 13%, & 5700 = 9% ( OI added )
So 5700 Level needs to hold for any upside, else markets heading for big fall.
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