View intact..Bulls to charge finally after consolidation for this expiry

Markets did not make any significant move on friday and consolidated around 4972 levels.

The view remains the same for this expiry. We can see some consolidation today and tomorrow and there might even be a move below 4900 to write more of 4900 puts and make it worthless for this expiry.

The PCR ratio is at 1.65, favouring bulls and though there was enough writing in 5000 puts, it might be early to decide the expiry to be above 5000 levels.

Resistance levels : 4987, 4999

Support levels : 4950, 4939, 4918

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