Please look previous idea Nifty eye High (link provided below) before reading ahead.
So that one could earn while remaining hedge and keeping open interest always open till end of expiry.
This is how Algo trading works and it can be clearly understood from below idea link - Nifty eye High
I am of strong belief that Nifty could possibly go to 8600-8700 before hitting 8000.
Means I wish to say in short - "Do not stay in SHORT"
So trading on Algo principles:
Derived Algo trading levels on derivative NIFTY17JANFUT
R1 :: 8463
S1 :: 8384
Please keep on booking profits.
These are Options Chain and Options Greeks methodology. Bit complex to write. I write Algo codes in computer on this and then Computer derives these levels.