In the range bound game, yesterday markets were dominated by bears after a gap down and bears pushed markets to the low of 5232 levels before closing at 5250.
The whole of the week is seeing a range bound move with bulls and bears alternatively winning each day.
Options saw accumulation in 5300 calls to a large extent yesterday though the OI remains lowest considering the out of the money strikes. It is possible for bulls to charge today and push markets back to 5300 levels.
How to trade?
It is better to remain in long with the stop loss of 5232 levels for the target of 5302.
Resistance levels : 5265, 5285, 5302
Support levels : 5232, 5220, 5191
No comments:
Post a Comment