As I mentioned in my Pervious Post that 17000-17400 is a Supply Zone but price action is Suggesting that Nifty created strong base near 17200. In any case it will sustain below 17200 than 17400 will become a Resistance. Also there is a absent of POC in this Zone which is a good sign for a long position.
In any case if it will sustain above 17400 then it may test its next supply zone @ 17800-17950.
Bottom line is I will avoid Short position above 17200.
Please refer to my pervious post for my current positions.
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Not able to move above 17400 and now trading below 17300. Closed all long position Current short position in 17450 CE 11 Aug Exp