Towards the end of yesterday's session bulls were able to charge and take Nifty out of the range to test higher levels of 5480.
Options data saw heavy unwinding in 5400 calls and writing in 5500 puts pointing to bullishness and Nifty could attempt to scale above 5500 peak for the session.
How to trade?
Stay long at support levels for a target of 5496
Resistance levels : 5480, 5496, 5523
Support levels : 5462, 5451, 5422
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