Nifty closed exactly at the last resistance level of 5136 mentioned on friday. A pull back into the range was expected any time and though it did not happen during intra-day, there is a strong possibility of a gap down opening today as indicated by SGX Nifty.
Overall there has been unwinding on the call side on friday and accumulation in the puts and a larger range play is expected with 4969 levels offering a strong support on any move below 5000 levels.
Resistance levels : 5150, 5201
Support levels : 5066, 5037, 4969
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