December 19, 2013

NIFTY selloff the second time...

This month we had two ocassions when nifty opened strongly with a gap on whatever called good news but sold off immediately...

The first was on 9-DEC when the VIX gave a double whammy and dropped almost 15%!





The second one was today when nifty dropped 70 points in 5 minutes and VIX dropped 5%...



The above had the effect of stopping out a positional in first 15 minutes itself when nifty dropped below 6220F....

On 15 minutes charts, a possible buy signal will develop above 6210F...


EOD charts clearly show show selling at higher levels or on good news.


Tomorrow, weekly close will be important... as of now, bias looks down.

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