NIFTY closes at highest level of the trading range... it has marginally closed above the recent swing high.
Option writing points to support at 6000 and resistance at 6500 this series. This implies possible bullishness.
On a bearish note, the VIX shot up today by 8%... this indicates increasing fear amongst option writers and has the effect of making options more expensive.
NIFTY is also at RSI resistance... let us see what happens here
Intraday chart points to rangebound trading....
Option writing points to support at 6000 and resistance at 6500 this series. This implies possible bullishness.
On a bearish note, the VIX shot up today by 8%... this indicates increasing fear amongst option writers and has the effect of making options more expensive.
NIFTY is also at RSI resistance... let us see what happens here
Intraday chart points to rangebound trading....
