Friday, June 4, 2010

Range high reached and a pull back again...


Markets opened on a strong note and crossed the strong resistance level at 5100 from where a pull back is expected and also closed a shade above that level.

Options data is indicating a range bound move and a pull back below 5100 levels as the accumulation seen in 5100 puts is less when compared to the other at the money and out of the money strikes.


Resistance levels : 5121, 5136

Support levels : 5085, 5066


-Happy Trading

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