NIFTY
Highest Call writing at 22500 strike with 99.28 Lakh and highest Put writing at 22300 strike with 62.67 Lakh.
Index is unlikely to cross above 22525 level in the current weekly expiry and trade between 22300 - 22525 range.
Contra short position may be initiated if Index reaches near 22525 level and Call writing increases at 22500 Strike.
If Index down below 22380 then may reach to 22300 level and contra Long position may be initiated anear 22300 level.
If index crosses above 22525 level and Call unwinding takes place at 22500 Strike then may reach near 22600 level which is unlikely situation in the balance 2 days of the weekly expiry.
Trade closed: target reached:
Gap down opening with low near 22350 on Taiwan Earthquake and late night good Economic data but more Puts were adding up at 22300 strike and index bounced near 22525 resistance level and again tank to low near 22425 level as analysed that contra trade to be initiated if index reaches nar 22525 level.