Yesterday Nifty could not move beyond the first resistance level of 6336, corrected and closed at 6273 levels.
Options data saw increase in both 6500 call and 6000 puts and the PCR has come down to 1.17 levels though favouring bulls.
It looks like markets is likely to consolidate for a week between the range of 6336 and 6234 levels with a possibility of a momentary test of 6203 levels, before it can stage another strong rally surpassing previous high.
Resistance levels : 6312, 6336, 6366
Support levels : 6265, 6234, 6203
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