Yesterday markets were range bound, confined between 4900 and 4986 levels. The momentary dip below 4900 levels did not happen.
Markets have now opened gap down and is trading around 4850 levels. Options data indicate a bounce till 5000 levels before the expiry next week and it could be time to accumulate 5000 calls whenever market moves below 4850 levels.
Resistance levels : 4951, 4975, 4994
Support levels : 4885, 4857, 4836
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