Nifty Tradaing Range and Demand and Supply Zones

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As I have mentioned in my earlier posts that Nifty is trading in the wide sideways zone and I will prefer to trade in option writing instead of trading in FUT. My view is still the same. So on Thursday I sold 9600 call and booked today on the lower level and made a short position in 9000 put.

On the downside 8970-9000 is a strong demand zone for this week and on the upper side minor supply zone @ 9260-9310 and strong supply zone @ 9500-9580.

Now the Nifty small trading range is 9000-9300. In any case, if it will sustain above 9300 then it may test 9440-9500.

Trade active:

Sold 9000 Put @ 65