NIFTY is very close to its 50EMA on weekly chart, which is at the 16500 levels. If NIFTY closes below this level with decent volumes by Friday, then we will see further downside on the NIFTY chart towards 16100. If NIFTY bounces back from these levels, then 16700 on the daily chart would prove to be a resistance as 200 EMA is around these levels.
Until a clear direction is not available, a high VIX will continue to provide rich premiums at high risk. Maintain caution.
DISCLAIMER: I am not a SEBI registered advisor. Views are personal and for purposes of own education. Please do not use these for trading.
Until a clear direction is not available, a high VIX will continue to provide rich premiums at high risk. Maintain caution.
DISCLAIMER: I am not a SEBI registered advisor. Views are personal and for purposes of own education. Please do not use these for trading.
