Finally bulls were able to break the 5250 barrier also and also almost closed near that level by another powerful move towards the end from the
day's low yesterday.
Bulls seem to be positioned strong enough to retest the year's high level of 5311 and also break it in the coming days. The strong consolidation has strengthened bulls stance.
The options data is also suggesting an upmove and yesterday the open interest PCR has reached more than 2 indicating strong bullishness. Also the volatility is still at its multiple year lows suggesting further expansion and a strong one sided move.
Resistance levels : 5275, 5307, 5335
Support levels : 5239, 5224, 5175
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