Yesterday bulls were unable to push markets again beyond the key resistance level of 5332 and markets closed near another key level of 5306.
The is unwinding seen in 5200, 5300 calls and some accumulation in 5300 puts yesterday. This is not a bearish sign and would infact point to some amount of bullishness. Pattern-wise also markets are showing bullish signs.
The view as of now is any down move of today will be equally compensated by an upmove tomorrow for the expiry.
Resistance levels : 5314, 5323, 5332
Support levels : 5304, 5285, 5250
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