On friday, markets made another attempt to breach the crucial level of 5400 and towards the end of the day was able to test that.
There was also a bear trap seen at 5382 levels towards the end. Options data is not indicating a clear direction and is pointing to a range bound move with increase in intraday volatility.
Overall, it looks like markets will fall back into range on testing resistance levels.
How to trade?
It is better to trade the range with a long at support levels and short at resistance levels for the day.
Resistance levels : 5406, 5420, 5442
Support levels : 5371, 5361, 5350
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