It was a deep correction yesterday and markets have started to behave irrationally. The view remains the same.
There could be a strong bounce anytime, if not sustainable, atleast a powerful up move to throw out the late entrant weak bears at this stage.
There is no significant change in the PCR and it is at 0.94, which is almost neutral and does not indicate a deeper correction in the short term.
Overall the implied volatility has increased and it might take some more time for the markets to stabilize.
Resistance levels : 4610, 4653, 4680
Support levels : 4537, 4505, 4486
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