Nifty would be completing its 13 weeks rally which commenced on 27th DEC 2016 in the coming week INDIA VIX in the lower panel seems to have hit the support
Historically it is observed that a move below 10.50 on the VIX has resulted into a reversal in the Nifty
The current setup seems qualifying for a short trade & hence long positions should be avoided in the coming week
The ongoing wave is expected to terminate near 9264 & Shorts could be initiated then with a stop at 9330 & Target 8975
Historically it is observed that a move below 10.50 on the VIX has resulted into a reversal in the Nifty
The current setup seems qualifying for a short trade & hence long positions should be avoided in the coming week
The ongoing wave is expected to terminate near 9264 & Shorts could be initiated then with a stop at 9330 & Target 8975