Nifty - how long can the short covering rally last.
Nifty is showing good strength for past few sessions, the rally seem to still have some legs.
Nifty fut open interest is at multi month low, that normally means market is light and can move fast in either direction. It did saw a 2-3% reduction yesterday. The low open interest in the present scenario is because to very low participation. The low participation environment is not very safe for trading.
Reduction in Vix ot IVs from historic high levels can be seen with comfort, we may see a smaller trading range going forward.
PCR is not providing much cues, Option Chain is suggesting 8500 should hold, while crossing 8800 will be difficult.
Levels mentioned in the chart can be followed for trading, trade with caution following strict stop losses.
Markets are still very volatile, avoid taking naked positions - trade using strategies or covered / hedged options.
Nifty fut open interest is at multi month low, that normally means market is light and can move fast in either direction. It did saw a 2-3% reduction yesterday. The low open interest in the present scenario is because to very low participation. The low participation environment is not very safe for trading.
Reduction in Vix ot IVs from historic high levels can be seen with comfort, we may see a smaller trading range going forward.
PCR is not providing much cues, Option Chain is suggesting 8500 should hold, while crossing 8800 will be difficult.
Levels mentioned in the chart can be followed for trading, trade with caution following strict stop losses.
Markets are still very volatile, avoid taking naked positions - trade using strategies or covered / hedged options.
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