A test of 5284 levels on the expiry day of the May series
We are entering into the expiry day of May series and throughout this series right from day one, it has been bears maintaining the upperhand.
Throughout the series PCR has remained below 1 and also made a low of 0.75 levels signalling a strong bearish bias.
On the expiry day the expectation is that Nifty will break the 5300 barrier and go for a test of 5284 levels before closing near to 5300 levels.
Resistance levels : 5369, 5387
Support levels : 5329, 5284