After the powerful move on friday, markets continued the uptrend and bulls were able to charge right from the low start yesterday and close the markets at a strong level of 5525.
The OI in near strike puts and also ITM strike of 5600 increased by a large amount yesterday. The PCR is neutral at 0.99.
It looks like bulls still have the power to push the markets up for this expiry to the level of 5685. There might be a retest of the series high of 5605 in today's session and then a consolidation around 5530-5550 levels.
Resistance levels : 5531, 5555, 5605
Support levels : 5508, 5480, 5462
1 comment:
It is good to see your analysis. Nearing Expiry, you are always spot on with your analysis. Keep up the good work.
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