Nifty 50 Index

No trade zone between 17609 to 17670.

In analyzing market trends, it is important to identify potential no-trade zones and formulate appropriate trading strategies that align with one's risk tolerance and overall objectives.
The current price range between 17609 and 17670 has been characterized by strong buying near the lower end and selling near the upper end, indicating the presence of key support and resistance levels. As such, I have decided to exercise caution and wait for a favorable breakout accompanied by a retracement before initiating any buying position. In addition, I am considering buying if the price breaks out of the trendline resistance or falls below the no trading zone along with a retracement, as this may indicate a change in market dynamics and potential opportunities for profit.
These strategies are designed to ensure that I am entering the market at optimal points and are consistent with best practices for risk management.

the OI data suggests we have a strong put writing on 17600 & call writing on 17700 right now,
I'll suggest you stay neutral in such market situation

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