Markets are crucially poised after closing 1% negative on a weekly basis post rangebound trading admist high volataility on A/c of Ongoing Greek Drama, Fuel price hike, Weakening Rupee & Inflation persisting at higher levels.
Comments by World Leaders on the recently concluded G20 summit would be keenly awaited & could provide a decisive trigger for Global Markets.
Markets are displaying reluctance to cross & sustain abv 5380 or break 5220 as selling pressure is witnessed on all rises & buying support is emerging at lower levels resulting in Nifty to oscillate between 5200-5400 range with Highest Open Interest built up in 5200 PE & 5400 CE.
Further Pullback upto 5490/5560 would be witnessed only if critical resistance area of 5376-5395 is crossed & Nifty Fut closes above it.
If fails to cross abv 5395, will be in a trading range 5184-5395.
Strong support lies @ 5185-5195 & Selling pressure would intensify upto 5060/4937 only if Nifty Fut breaches & closes below 5184.
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