Beginning of October series …Though bearish, bullish undercurrent seen…
The first day of the October series saw nifty testing 5000 levels again after a gap down opening and went on to close at 4943 levels.
Though there has been some bearishness shown, there is a good amount of bullish undercurrent existing in the system and it is likely that markets might rally strongly in the later half of the month towards the levels of 5200 and even beyond.
Large accumulation was seen in 4400 to 4700 puts and some accumulation in the near strike calls.
Resistance levels : 4995, 5025, 5051
Support levels : 4920, 4872, 4845