Wishing you all a very Happy & Joyful Diwali !!! Let Lights of Prosperity bring Success, Happiness, Health and Wealth !!!
Nifty had a great start in yesterday's session and continued the run non-stop to close just a shade below the all time high close of 6288 level.
6200 and 6300 puts saw huge accumulation in OI of more than 10 lakhs and there were unwinding seen in most of the near strike calls indicating bullishness for the short term. PCR increased to 1.10, though not skewed much is still supporting bulls.
With the festive mood set for the markets, it is likely that markets will also be on fire to go for an all time high close in the 1 hour Muhurat session. The extrapolated resistance level for the market is at 6365 which would act as a strong reversal point in the near term.
Resistance levels : 6288, 6338, 6365
Support levels : 6260, 6244, 6225
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