Yesterday it was the turn of bulls after a strong opening and pushed markets beyond 5300 levels and closed a shade below that for the day.
Option data saw huge unwinding in many of the put and call strikes, not giving a clear indication on the direction. Pattern-wise bulls still have an upperhand.
It is likely that markets will test further support levels for the day, before bulls can take it to a strong close for the week in the later half of the session.
How to trade?
Go long near to 5270 levels with a tight stop of 5248 for a target of 5334 and 5367
Resistance levels : 5312, 5334, 5367
Support levels : 5285, 5270, 5250
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