Markets to remain range bound and move up in the week after any initial weakness


Nifty last week was confined to a range and lost in the last two sessions of the week whatever was gained on wednesday. It closed the week at 6063 levels.

The PCR ratio is at 0.98 which is neutral and large increase in OI was seen in 6100, 6200 and 6300 calls as well as in 6000 puts.
Even if there is a break of 6000 levels for the week, market is likely to recover and move towards 6200 levels towards the expiry and might remain range bound.
Resistance levels : 6125, 6177, 6223

Support levels : 6036, 6018, 5952

-Happy Trading

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