The first day of the July series saw bears pushing markets down below 5300 levels.
It now looks like markets would swing between the key levels of 5191 and 5333 for a while before making the next move.
Options data saw quite heavy accumulation in 5200 puts and there could be momentary dip below 5200 levels for options writers to sell more of 5200 puts before markets could bounce back above 5300 levels.
How to trade?
Since markets likely to swing between the support and resistance levels, trade to buy at each support level and a sell at resistance level with stops being a move beyond the last resistance and support.
Resistance levels : 5302, 5333, 5369
Support levels : 5245, 5220, 5191
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