Hammered . . . . ! ! ! !

Hi All,

Thanks to the IV, which was up by almost 6% in the early trades near 23% mark,  Markets even gave up the crucial level of 7240-7230...

Now going forward if, Nifty sustains below the psychological level of 7200 or a weekly close below 7240, as suggested earlier, we can expect it to come down till 7100-7120 levels and even below 7000 mark. The bias turns bearish for all the time frames until we get a bullish confirmation on charts.

As of now there is no hope for bulls unless there is some sign of relief on charts.

Cheers....