Nifty for the day made a low of 5616 and from there the momentum picked up and made a high of 5700 the resistance level and closed at 5680 up by 46 points from the previous days closing.
Nifty's resistance is between 5700-5750 this region will be a major hurdle for Nifty on crossing this can go upto 5900.
One can initiate short of Nifty in between 5680 -5700 with a stoploss of 5750 for the target of 5600 and 5550 .
One can buy Put option of Nifty strike price of 5700 in the price of 38-44 with stop loss of 25 for the target of 80 and 100
PTC can be acquired in between 80-84 with stop loss of 75 for the target of 93 , 97
As today we have Monetary policy announcement more volatality will be there so trade with strict stop loss.
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