Yesterday markets saw a rally after a consolidation from the heavy fall of more than 2% on 2oth June.
PCR has mostly remained under 1 for the series and moved to 0.96 from 0.8 levels yesterday indicating slight bullishness and mostly nifty has been trading in premium.
5280 has acted as an important level during the consolidation in the past two days and it looks like bulls might now be able to push markets beyond 5300 levels and also test the crucial resistance at 5420 levels in the coming sessions.
Overall there is a strong chance of markets retracing to 5280 levels again after that and close the series around 5350 levels.
Resistance levels : 5349, 5369, 5389
Support levels : 5295, 5280, 5252
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