The market remained highly volatile on the back of external news flows and finally ended with marginal gains over
the previous day. As per intra day fluctuations, we may say that the market has formed an important formation on
daily basis and dismissal of the highs and lows of the said formation may result into hectic movement accordingly, in
the coming days. For next few days, the level of 5200 may act as a major support and sustenance of the market above
the same may give relief to bulls and pain to bears.
For the day, the level of 5250/15570 may act as a major support for the market and sustenance below the same may
lead to further weakness may be up to 5215 and 5200 (17390). On the higher side, the level of 5290/5305 may act as
a major resistance levels for the market. We may expect range bound movement between the broader range of 5220
and 5305.
