Yesterday markets saw heightened intraday volatility and also bulls pushed it to test the crucial level of 5332.
The 20 DMA is currently at 5290 and any move above that would bring back the bullishness now that weak bulls of yesterday are out.
Accumulation is seen in 5200 puts and unwinding in 5300 calls which also points to a good amount of bullishness setting in.
Any move above 5332 would trigger the next round of powerful short squeeze and would push markets to 5387 and 5406 levels in the near term.
Resistance levels : 5290, 5306, 5332
Support levels : 5250, 5221, 5206
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