Entered the expiry week with bulls taking complete control
Nifty is continuing the bullish streak which started on 22nd March and after breaking the key level of 5558 with a powerful gap up opening on friday, bulls completely took control and were able to push markets towards the 200 DMA levels of 5691 after testing above 5700 levels for the first time in two months.
There are 3 more trading sessions for the close of the financial year as well as the expiry of this series and it looks like there could be a close near to 5750 levels for the series.
Inspite of Nifty being in premium, bulls have managed to push markets to higher levels from the low of 5233 for the series.
The expectation in the next three sessions is that market may not dip below 5622 levels and might be hovering in a close range for the next two sessions, before bulls take charge again for expiry and push it towards 5750 levels.
Resistance levels : 5703, 5725, 5743
Support levels : 5667, 5639, 5622