Markets corrected yesterday to retest the support of 5485 levels.
Options data saw unwinding in 5500 put and a huge increase in open interest in 5400 put. 5400 call has a low open interest and so a strong down move is not seen before the expiry of this series.
Any down move below 5500 can see a bounce back towards 5500 levels.
Resistance levels : 5523, 5546, 5565
Support levels : 5485, 5469, 5448
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