The range bound move happened yesterday itself where markets broke 5600 levels and gave a strong down move towards the middle of the session and closed at 5667 levels.
It looks like markets have made the high for the series and a move beyond 5654 levels is not expected before this expiry.
On the downside, a retest of 5485 and even a test of 5454 levels is expected before markets can give another bounce to close the series around 5605 levels.
OI increase in 5500, 5600 and 5700 calls was heavy yesterday and unwinding was seen in near strike puts though 5500 put OI is the highest at 1.1 crore. Both 5700 and 5800 call OI also crossed 1 crore mark.
Resistance levels : 5574, 5592, 5605
Support levels : 5558, 5529, 5485
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