How to trade Nifty and Bank Nifty after todays crash

• FIIs sold 68508 contracts of Index Future (Sold 17545 long contract and  50963 fresh shorts were added) worth 1850 cores with net Open Interest increasing by 33418 contracts. So news like S&P downgrading India and Attack over Syria added fuel to the fire and lead to panic selling by Retailers and FII also shorted big time.

Nifty finally added its 4 day pullback rally today after falling below 5556 and what we discussed yesterday nifty oblized us :)  Today volumes were quiet less as most of FII's are on holiday. We need a confirmation with a close above 5556 for the current pullback rally to continue, failure to do so we can see a pullback back till..

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