Nifty appears to have taken support around 5250 - IIFL

Nifty after declining ~10% in one week appears to have taken support around 5,250. If it manages to hold above yestrerday's low, expect some pullback to take Nifty towards 5,500-5,550. However, Bank Nifty is yet to provide any bottoming out formations.

Sensex August future which shed 300cont in open interest has seen unwinding in yesterday trade.

On option front, BSE100 August 5,500 strike call which added 1750cont in open interest in has seen buying in yesterday trade, while put unwinding was seen at BSE100 August 5,400 which shed 5500cont in open interest.

Source : Equity Bulls

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