Bears have been totally dominating the markets in the last few days and now the expiry day has arrived.
Having had complete control till now, bears are less likely to give up and show their might for the expiry also.
Yesterday's session saw heightened volatility, but the expectation today is that bears would take complete control right from the beginning and would push Nifty to test lower levels of 4750 and even beyond. A test of 4705 levels is also not ruled out.
The PCR for the series has declined to 0.93, completely in favour of bears. There are only very few expiry instances where the range has been more than 100 points and today there is a high possibility of more than a 100 points down intraday and a possible expiry at 4734 levels.
Resistance levels : 4845, 4868, 4896
Support levels : 4785, 4734, 4705
Happy Trading
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