F&O: Sharp market decline & fall in VIX present a confusing picture SECTIONS F&O: Sharp market decline & fall in VIX present a confusing pictureBy Chandan Taparia, ET CONTRIBUTORS Last Updated: Mar 17, 2021, 05:58 PM IST Share Synopsis As long as Nifty remains below 14,900 level, weakness can be seen towards 14,600 and 14,500 levels, while on the upside, hurdles have shifted lower to 14,950 and 15,050 levels. Shutterstock.com VIX needs to cool down below 20 level for the bullish grip to continue and the market to see a smoother move. Related NSE Explore Now Nifty opened positive on Wednesday, but failed to hold above the 14,950 level and continued to see selling pressure towards the 14,700 mark. The market witnessed sustained selling pressure across the board, and the session ended with a loss of around 200 points. The index formed a strong bearish candle on the daily scale and continued to face weakness for the fourth consecutive session. Now, as long as Nifty remains below 14,900 level, weakness can be seen towards 14,600 and 14,500 levels, while on the upside, hurdles have shifted lower to 14,950 and 15,050 levels.