Lets take the nifty all time high low fibo levels.
38 % retracement is at 3824 and 50%is at at 4319
Now taking fibo levels between 3824 and 4319.
61.8% retracement between these comes at 4115 and nifty day before yesterday closed at 4116
Now today nifty closed above an important level of 4319
It now faces resistance at 4363 odd levels a closing above which gives next tgt as 4412, then 4517 and then 4620
So longs will be safe above 4360 with SL at close below 4300 or below 4276.
Not taking the OI data into consideration as it is too early in the series, but still 4500 calls have highest OI in calls and 4200 puts have highest OI in puts indicating a range between 4500-4200. Also the rollover in nifty futures need to b a bit higher.
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