Vix is a measure of volatility. The index is falling suggesting some stability in the markets but this entire rally in the markets is based on too many gaps. Gaps are not sustainable as it is a sign of weakness and lack of conviction. I expect some decent downside in a coming couple of weeks....so will not jump in with buys now.
Nifty. The positional stop-loss for all trading lings is 17400 and for the day is 17750. Resistance is placed at 18115 which was the previous quarter's high.
BankNifty. It will remain highly volatile due to a lot of global events on interest rates. Reversals can be sharp hence it is not for the weak-hearted. Support is placed at 40300 and resistance at 41500.
Derivative. Data formation is weak on options but positive on stock futures. Index futures are neutral to positive.
Nifty. The positional stop-loss for all trading lings is 17400 and for the day is 17750. Resistance is placed at 18115 which was the previous quarter's high.
BankNifty. It will remain highly volatile due to a lot of global events on interest rates. Reversals can be sharp hence it is not for the weak-hearted. Support is placed at 40300 and resistance at 41500.
Derivative. Data formation is weak on options but positive on stock futures. Index futures are neutral to positive.
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