Wednesday, May 11, 2011

Another neutral session between 5500 and 5600. Time to move out of range...


Yesterday again markets were hovering between 5500 and 5600 levels and went for another neutral close at 5541 levels.

5600 calls added 12 lakhs in open interest and some unwinding was seen in 5500 puts. PCR is at 0.91.

Any move below 5508 levels will pull down markets heavily till 5393 levels.

Resistance levels : 5586, 5623, 5654

Support levels : 5532, 5508, 5462


-Happy Trading

No comments: