Derivatives strategies: A breakout above 10,800 would be a positive signal

The Nifty hit its all-time high of 11,760 in late August and retracted to a low of 10,005. The 200-DMA is currently trending at around 10,750

The market continued to ride up. It is now testing resistance between 10,700 and 10,800. This zone is critical since the Nifty's 200-day moving average (200-DMA) is at these levels. A breakout above 10,800 would be a positive signal, with a possible upside till 11,000-plus. A crash would, on the other hand, have a downside till 10,300. Volumes have picked up with net institutional buying. FPIs are net positive while domestic institutions are selling. Breadth is negative, with advancing stocks outnumbered by declining stocks but it has improved. Volatility remains high. The major indices are all trading close to respective