The global markets have been making the market nervous. You can see that
there are sharp corrections and immediately buying is coming, it clearly
shows that buying is still there in the market, but volatility has increased
a lot.
S&P and Dow Jones are at important support levels and i don't think it would
get breached so easily. The volatility index has been at its peak showing that
market is highly nervous and usually big rally happens during such time.
Crude Oil has been trying to settle down and looks like atleast a temporary
bottom is made here. Even after the negative news about higher supply in USA
market, crude has been trading positive, which clearly shows that we can
expect a good bounce back in crude.
If market opens negative, let it settle down and when it starts moving up
buy Nifty and Bank Nifty.
Immediate support for Nifty is around 8180-8200
and Bank Nifty is around 18300-18400
Do not short until it breaks 8180.
there are sharp corrections and immediately buying is coming, it clearly
shows that buying is still there in the market, but volatility has increased
a lot.
S&P and Dow Jones are at important support levels and i don't think it would
get breached so easily. The volatility index has been at its peak showing that
market is highly nervous and usually big rally happens during such time.
Crude Oil has been trying to settle down and looks like atleast a temporary
bottom is made here. Even after the negative news about higher supply in USA
market, crude has been trading positive, which clearly shows that we can
expect a good bounce back in crude.
If market opens negative, let it settle down and when it starts moving up
buy Nifty and Bank Nifty.
Immediate support for Nifty is around 8180-8200
and Bank Nifty is around 18300-18400
Do not short until it breaks 8180.
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