Hi All,
Unfortunately Nifty did not hold 7500
levels on Friday and we made a loss in 7500 CE, however as expected after
breaking 7500 there was a lot of panic seen in markets and Nifty went lower to
test its recent lows near 7420-25.
Today in spite from a weak cues from SGX
Nifty which was down by 17 points, Nifty managed to bounce back after opening
negative and is currently trading near 7450, up by almost 10 points.
I stand by with my view that 7400-7420 will
be very crucial levels to watch out for and below it, Nifty can drift down till
even 7100 levels.
Traders are expected to be cautious as the
Implied Volatility is trading near to 20% mark and above 2013-2015 (20.13 /
20.15%) it may shoot up to even higher levels.
Cheers.....
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