Yesterday markets rallied strongly and closed at a new high of 5577 levels.
Options data saw heavy increase in 5600 and 5700 calls open interest and unwinding in 5500 calls. Heavy increase was also seen in 5500 puts and 5400 put OI continued to rise.
There might be a move to test 5611 levels and markets will face very strong resistance around 5631 and that would act as a strong ceiling for this series and market is expected to fall back into range
Resistance levels : 5587, 5611, 5631
Support levels : 5545, 5523, 5509
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