The expiry day saw markets confined in the tight range of 4838 and 4880 and finally closed a shade above the previous close.
Though as mentioned in yesterday's post, Infosys gave a strong spike towards the end, it was not good enough for the markets to be pushed beyond the levels of 4865.
Now that the historic volatility is again shrinking back to lower levels since the consolidation has been for a while, it might be time for the march series to see heightened volatility expansion and a strong move either side. A break and close above 4950 levels might start a new uptrend going forward and a close below 4785 a new downtrend.
Resistance levels : 4885, 4905, 4930
Support levels : 4845, 4823, 4805
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