good shorting opportunity if 242 levels are not taken out

If it breaks out above 242 levels than we can easily see it touch 330 levels.

Its a head and shoulder patterns on the charts with strong support zone at the 188 levels.

It might consolidate between 230 and 200 levels where we see active call positions being taken at 230 levels about 12.8 lacs and about 13 lac put positions at 200 strike positions.

One could go short with a tight stop at 242 for a target of about 210 levels which conincides with 23.6% levels.

Trade closed: target reached:

target of 210 reached was a false breakout and market conditions favored this trade