For the past 5 sessions, markets have been hovering in a tight range around 5550 levels.
PCR is hovering at 0.88 and throughout the series it has been well below 1, which favours bears to a good extent and the view is maintained that any move below 5508 will see market testing 5393 levels in the near term.
Resistance levels : 5586, 5623, 5654
Support levels : 5532, 5508, 5462
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