The Nifty Index in last trading session ended in the red territory at 5446.65. On the derivatives front we have seen that the Nifty Futures prices ended in the red territory along with slight addition of open interest and increase in the cost of carry, this is an indication of some longs being built at lower levels. On the options front the OI PCR has ended at 1.25 vs. 1.33 whereas the Volume PCR has ended at 1.01 vs. 1.21. On the volatility front the Indian Volatility Index (VIX) has ended at 25.26% gaining 1.49%.

The stock has successfully taken support at lower levels and is now moving in an uptrend. One could go for buying on dip strategy in the stock till it breaches the level of 550 in downside as it is expected to continue its bullish trend.

Resistance - 590

Support - 550

The stock is being consolidating after a fall previously. It has next resistance at 233; crossing of this level may take the stock further up While it has support at 218.50, breach of this level may take the stock down.

Resistance - 233

Support - 218.50

Hero Honda is trading in uptrend. It is consolidating at the higher level and trading with the positive bias. So a decisive breakout above the level of 1575 may continue the upward rally in the coming trading sessions.

Resistance - 1575

Support - 1490