For the past two sessions markets were range bound with the intraday volatility remaining high with strong moves on one side equally nullified by another strong move on the otherside.
This is due to the strong build up in both the 5300 put as well as the 5400 call. The end of the day data for yesterday saw unwinding in 5400 call and adding of another 10 lakhs to 5300 put.
This is imparting some amount of bullishness though the attempt to scale 5400 levels by bulls failed yesterday.
There are no indications as of now for this markets to correct heavily and it is still a buy at each support.
Resistance levels : 5387, 5406, 5440
Support levels : 5363, 5341, 5328
Happy Trading
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