NIFTY maintains sequence of higher highs and higher lows. In other words, trend is still up and we will consider signs of reversal only if some recent significant low is broken.
These 'significant' lows are 6130 and 6080 spot.
Option writing points to support at 6000 and resistance at 6300 (MARCH series)... another painful month.
On a different note, VIX dropped by another 3% today signifying no fear. However, reversals always happen at extremes and the level of 13-14 is a reversal area for VIX. This means you can expect volatility to increase in markets.
Note that there is no clear level for nifty from which this can happen.
These 'significant' lows are 6130 and 6080 spot.
Option writing points to support at 6000 and resistance at 6300 (MARCH series)... another painful month.
On a different note, VIX dropped by another 3% today signifying no fear. However, reversals always happen at extremes and the level of 13-14 is a reversal area for VIX. This means you can expect volatility to increase in markets.
Note that there is no clear level for nifty from which this can happen.
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