4700 is very strong support ...breaking of it will be hard nut to crack...only big bad news will break it otherwise will expect range trades or bounce back to its prominent channel 4800>< 5200
heavy writing in puts at 4700 level is indicating that writers are quite confident to move indices towards upper levels ....so flow with option writers and start accumulation the stocks which u are getting at rock bottom prices option writers are busy in writing 4700/4800 pe ...and 5000 51000 calls
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