Markets corrected significantly yesterday with a gap down and tested the lower end of the band and closed near the second support level of 5206.
The option data is still pointing to short term bearishness with 5300 puts witnessing huge unwinding of around 19Lakhs and 5200 calls adding on 18 Lakhs as open interest.
The lower end of the band has been tested and today there could be more of downside to test further support levels before markets can give a bounce in the later part of the session.
Resistance levels : 5206, 5220, 5250
Support levels : 5185, 5166, 5116
Happy Trading
www.tripleint.com
No comments:
Post a Comment