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The sharp jump in volatility also made the trend favourable for bears and gave discomfort for bulls. Going above 12-13 levels can bring more bearish trend in the market, experts said
India VIX, which measures the expected volatility in the Nifty50 for next thirty days, fell by 5.57 percent from 10.94, to 10.33 levels, the lowest closing since August 1, which boosted confidence amongst bulls.
The Nifty may face hurdle at 19,500-19,700 on the higher side, with support at 19,400-19,200 range. If it slips below 19,200, a deep correction is likely
Options data suggested that 19,500 is expected to be crucial for further downside in the market, while the index may face hurdle on the higher side at 19,700-19,800 levels
Technical View | Bullish Harami kind of candlestick pattern formation at the downtrend indicates that the bearish trend may be reversing. Generally, the high and low of this candle are important for following sessions to know the further trend.