Today has been a good fight between the bulls and bears but the momentum was on the falling side.
Price action was purely at the support and resistance levels as shown below and the whole day’s trading range is on these levels.
The next level of resistance is at 25300 and the support is at 25188. The 7 day EMA is breached today and the index is sitting at the support of 13 day EMA.
We have to admit that the volatility levels are at peak and people who are able to trade at the S & R levels will end up in profit.
Call writing and Put writing stay as yesterday means the option writers are expecting more downside.
As tomorrow is the last day of the expiry, it would be interesting to watch.