Yesterday the markets were again confined between a tight range and also closed at the place where there were bull and bear traps seen in earlier sessions.
After testing the lower end of the band, markets might make an attempt to reach the 20 DMA which is currently at 5287. The lower end is at 5182 and only on a break below that level would markets turn extremely bearish at this stage. Options data is suggesting a range bound move for a few sessions.
Resistance levels : 5257, 5287
Support levels : 5220, 5206
Happy Trading
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