December 10, 2013

Markets still bullish

Despite an adverse advance decline ratio, I am still bullish on the markets. This is because of  a continuous fall in VIX (6% today) and increasing put writing at 6000 levels.... I am hopeful this will increase to 6200-6300 levels.

Drop in VIX implies that even if you bought puts yesterday, you would not have earned today.

Intraday charts point to support at 6340F... note the freak trade around 6300F levels.

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