a possible setup as nifty has not sustained above 10500. breaking 10420 can lead nifty all the way to 10300-10280. alternatively pattern will fail above 10500 strategy sell below 10420 target 10300/10280. sl 10490
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prntscr.com/hvuumu option data suggests put writing is very aggressive compared to call writing i.e 10400-10420 level is defended aggresively so shorting wont b advisable unless it breaks the same .