Nifty futures finally managed to close above resistance 5555 (200 DMA on 4 Hour chart) mark yesterday. This may result in bounce towards 5600 and then 5655 levels. As nifty is now firmly trading above 5555 level we expect strong buying will support the broader markets to recover and now we will be buying at every dip, targeting the 5650 zone. So seeing this as a good buying opportunity we recommend to go long on nifty 5600 call near 48 level for target of 67 and 86. A strong upward momentum is expected once nifty future manage to close above 5555 level today.
So we recommend: Buy Nifty 5600 call near 48 for targets 67 and 86. Keep stop loss near 36 level or exit this call option if Nifty futures seems to trade/close below 5555 level.