NIFTY Shows a Quick recovery bounce and formes a Classic Reversal pattern on Doji Hammer- this is Bullish Reversal By the book !
The Doji hammer follows the classic Ratio of being more than 1:5 tail to Head ratio .
This hammer has formed during the strong Run in Nifty up Channel
The same structure has also bounce off of 20 EMA and 9700-9750 Support Zone! So a classic Price Action Trade can be placed Here :
Buy : Above 9900
Target 1 : 10070 (Next Resistance) Target 2: 10150
Stop loss :9800 , 9750
Option Strategy: Since we have a clear bullish Sign and a End of the month Low premiums , one can take a Bullish position in Buying a CALL or Buy Future+Put