Nifty Daily charts shows that very recently 10 day auto correlation turned positive and the smooth RSI oscillator indicates trend strength is accelerating. And hourly charts also turned to positional buy trend with hourly supports coming around 8671. One has to exit their long if the autcorrelation turns negative or the Smooth oscillator turn down below 50 on EOD basis.
Nifty Futures Hourly Charts – Non Continuous Contracts
Nifty Options – March Expiry
Nifty Options shows 9000CE holds the higher open interest. Since it is the start of the series it is tought to preassume that 9000CE writers are in control. However one has to have a close eye on the development of OI in 9000CE. Any open interest covering in 9000CE will bring big movements in Nifty on the upperside and vice-versa