Yesterday markets had a strong gap down and then bulls tried to push the markets beyond 5250 levels which acted as a strong resistance multiple times and bears took over and closed the markets near another key level of 5206.
The overall undercurrent is bullish and it could be the the turn of bulls to take control in the remaining two sessions for the expiry including today.
The options data is not favouring bulls or bears at this juncture and the volume PCR is remaining neutral. Overall 5200 call and put saw heavy transaction yesterday and 5300 puts saw unwinding.
Resistance levels : 5219, 5250, 5275
Support levels : 5189, 5175, 5163
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