Yesterday markets saw swings in and around the previous close of 5527 levels and finally closed at 5545 slightly above the previous close.
PCR increased to 1.08 which is still neutral. Increase in OI was seen in all the near strike puts and also in the ITM put of 5600 of 5 lakhs which increased in the last 30 mts of trade. There was mild increase in OI in near strike calls also.
Overall it looks like any move above yesterday's high of 5558 will be extremely bullish for the series. A test of 5605 and above levels and a retracement for the day and then bulls might be able to charge markets further higher for the expiry tomorrow to levels of 5685.
Resistance levels : 5558, 5585, 5605
Support levels : 5535, 5508, 5480
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