Yesterday markets again showed signs of a breakout, but was still confined between the second support and resistance levels of 5082 and 5146.
It now looks like the market has strength to reach the ceiling of 5182 levels and looking at the accumulation in 5200 calls, it might be difficult for the markets to crack 5200 levels and there are good chances of markets to fall back into range again.
The volume PCR has reached 0.98 which shows lot of activity has been on the call side and markets may not be able to sustain to the new high levels also. It could require some more consolidation and range moves before making a strong rally.
Resistance levels : 5146, 5162, 5182
Support levels : 5115, 5103, 5082
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