Bulls were strong right from the beginning of yesterday's session and pushed markets towards our short term target of 5370 and also closed near that.
The build up in the 5200 put served as an indication for the short term rally.
It looks like markets can attempt to scale 5400 levels before further correction sets in. As of now the call build up in 5400 strike is ruling high at 62 lakhs and is indicating a strong resistance as of now. The historic volatility has dipped to its low and is likely that volatility will start increasing going forward from now on.
Resistance levels : 5387, 5406, 5440
Support levels : 5360, 5341, 5328
Happy Trading
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