Indian stock markets surged to end 2% higher on Wednesday, amid firm global cues, on broad-based buying as investors bought stocks across sectors. The 50-share Nifty ended above the crucial psychological level of 5,500.

The Nifty future shut shop at 5552.55 gaining 112.20 points or 2.06 percent. Nifty future increased 722950 shares in open interest, and came to a premium of 20.60 from 24.30 whereas cost of carry is 3.70 vs. 4.29 down -13.75% on the options front the OI PCR is 2.02 vs.1.78, whereas the Volume PCR is 1.16 vs. 1.06 on the Volatility Front the Indian Volatility Index has ended at 22.10% vs 22.71% losing 2.69%.

RESISTANCE: It has first resistance close to the level of 5590 & above this level the next resistance is seen near the 5710 mark.

SUPPORT: It has first support close to the level of 5470 & below this level the next support is seen near 5350 mark.

Bank Nifty Futures shut stop at 10971.25 up by 382.10 points or 3.61 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11000 else below support level of 10650 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 11000 above this level the next resistance is seen near to the level of 11130.

SUPPORT: It has first support close to the level of 10650 & below this level the next support is seen near 10470 marks.