Nifty spot after day before yesterday’s mammoth fall breaking

BY A STAFF REPORTER 

Nifty spot after day before yesterday’s mammoth fall breaking 11 days range bound move in between 17400 & 16800, now the index is facing strong hurdle near the 16900-16950 levels and till trades below this level, the sentiment might remain negative.

On the down side :- Fresh negativity below 16623/600 then down side door may open for 16535—16425 & even upto 16350 to 16200.

On the upside :- Reverse pull back hurdles are 16666-16704 and then major 16773-16850.

India VIX, the fear index, closed at 20.29 levels, down 7.24%. As long as it stays above 18 that is risky for bulls & It needs to fall below 18 levels to bring stability to the market.


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Source : Eureka

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