Nifty is trading in the wide sideways zone of 8650-9500. I will go with OTM option writing.
Take trade if script broke below the bearish flag channel Targets given on chart
Nifty is in upward channel. We might see an uptrend.
It has given a fresh breakdown in hourly time frame which suggest a retest of 500 and then 460. View would be negated above 555
Major supply zone @ 19650-20500 and Demand zone @ 19000-19300. According to the option data max call writing @ 20000 and put writing @ 18000. If it sustains below 19000 then 1200 to 1500 point downside range will open.
it will definitely retest the recent lows in coming months.
On weekly chart we can see that it has retraced 50% twice. it has retraced alomost 100%. Now it has retraced almost 38% which is at 53 level, i.e today it touched 50.4 levels. considering the economic situation it is difficult to retrace 50% level. if nifty support it can do so.