UPTREND in medium term trend.
1) Formed an EXHAUSTIVE candle on friday. (Neutral)
2) On Intraday chart, stock had a very good opening move, but after SBIN results, (being its peer) it also faced a selling pressure. Due to which short covering was seen, but before this event, stock was enjoying LONG BUILDUP
2) OI Analysis:
Traded with highest number of contracts in this series.
If on Monday, spot price is sustaining near 380-383 levels and OI is increasing then GO LONG for 3-4 % gains in 1-2 days.
3) Option Analysis suggests, 82k positions were cleared from 390CE, 194k positions were added @ 400CE & 218k positions added @ 380PE, which means, 380 will act as STRONG SUPPORT where as 400 will act as STRONG RESISTANCE.
Remember, run from 385 to 400 will give you 5% gains.
Now if crosses 283 with high volume, then GO LONG for quick buck