Bears took complete control towards the expiry…
For a week the bearish move towards 6000 levels was written and the possibility suggested was that the move was to happen on the expiry day. Bears could do so one session earlier and pushed markets below 6000 levels to further test the support of 5985 and close the day above 6000 levels.
Options data saw huge increase in the OI of 6100 calls as well as 6000 puts and the PCR stays at 0.99 which is giving a neutral indication.
The expiry day can either stay neutral around 6009 levels or bears can further push markets down to test 5937 levels and also settle for a 5954 close. The possibility of Nifty testing higher levels looks very remote and might face strong resistance around 6032 level itself for the day.
Resistance levels : 6020, 6032, 6050
Support levels : 5985, 5954, 5937