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Traders are advised to accumulate longs in Nifty with a stop-loss of 22,000 on the closing basis.
DLF formed long bullish candlestick pattern on the daily timeframe with higher volumes. It has completed recouped its March losses due to buying in last few days, and traded above all key moving averages.
Milan Vaishnav said one can go for a short strangle for Nifty (selling CE 22,600 and selling PE 22,000). This is likely to see a yield of approximately 3 percent per lot on the capital deployed.
In terms of levels, immediate resistance is identified at 22,530, a level of significant importance on higher time frames, with further resistance seen at 22,800 followed by 23,170 for the Nifty.