After the strong up move in the previous session, yesterday markets corrected and closed near the second support level of 5128.
Any move below 5106 will indicate arbitrage play with wild swings. As and when the markets fall back into range the open interest in calls and puts increase near the range ends.
5106 will act as a crucial level and if 5086 is tested a strong bounce is expected from that level. Any move above 5211 would bring back strong short covering and will push markets to 5250 levels.
Resistance levels : 5173, 5211, 5250
Support levels : 5128, 5106, 5086
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