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India VIX was down by 1.78% from 11.07 to 10.88 levels on Friday. Volatility has been cooling off from the last two sessions and aided in support-based buying in the indices.
From a technical perspective, the market formed an Inside Bar on the charts as Nifty formed a lower high and higher low. More importantly, Nifty defended the strong support zone of 18,850-18,900 levels. As of now, unless violated, this zone remains a very strong support zone for Nifty.
Volatility has been moving in a narrow range around 11 zones and thus not creating any major panic in the market with a capped upside.
Concerns regarding rising crude oil, yield and gold prices, coupled with the pessimistic sentiment stemming from the Israel-Gaza conflict and geopolitical tensions, have sent the Dow Jones into a...
The options data indicates that the Nifty may face resistance at the psychologically important 20,000 mark, with support at 19,700-19,600 area