Yesterday was the turn of bulls to charge markets right from the beginning and Nifty had a high close of 5486.
Options data saw some unwinding in 5400 call, but then all the near strike puts and calls are still having a strong open interest. The PCR ratio increased to 1.16 showing signs of mild bullishness.
How to trade?
Overall markets can make an attempt to scale 5500 levels and reach 5524 levels. A buy near 5462 levels with a stop of 5432 is suggested for the day.
Resistance levels : 5494, 5523
Support levels : 5462, 5434
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