Yesterday markets after trapping the bulls at 5420 levels, raced ahead towards the end of the session, kicking in short covering and closed the day on a strong note at 5472 levels, above its 20 DMA of 5459.
Options data continued to see huge build up in 5400 puts which crossed the 1 crore mark very early in the series. Call side also saw an increase in 5500, 5600 and 5700 calls.
Markets have opened on a strong note and tested 5500 levels for the day. There might be consolidation around this level for some time before markets make the next move.
Resistance levels : 5485, 5509, 5523
Support levels : 5445, 5430, 5418
-Happy Trading
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