Options data for the week indicates key bounds now at 18200 to 17700 itself - Tradebulls Securities
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Yesterday’s rally post the GAP up opening sustained throughout the day with a good broad based market participationwhich helped the index to close above 18000 since September 2022.Breakout above the 17880 congestionwithaGAPwarrants the BreakAway Gap characteristics as further unwinding pressure could be evident going forwardtowards18200-18300 zone.Options data for the week indicates key bounds now at 18200 to 17700 itself. With its ADX nowabout tobreakits 25 zone it’s likely that the ongoing momentum could witness further momentum which would push the indextowards18300-18460 zone.Hence fresh longs to be maintained with a stoploss now below 17630 as of nowwhich couldberaisedhigher towards 17880 once the index sustains above 18200 zone.
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