Market Outlook

Market has surged over 2.5% in couple of days, Nifty has climbed over 450 points,
For Nifty there is a very strong resistance at 7470-500, where as a strong support is seen around the levels of 7200 which Nifty is unlikely to break in the short term, 
Nifty has seen 7400 as well as 7500 calls writings at record highs and therefore it does suggests that there might be profit booking around 7500. If nifty manages to get past 7500 then it wouldn't be far from breaching 7750