Volatility is likely to accelerate the oscillation within the developing band of 16460-15760 - Tradebull Securities
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Nifty
Volatility is likely to accelerate the oscillation within the developing band of 16460-15760 as VIX is near its crucial resistancezone 25 while index revisited its base around 15760. With expectation of a likely cool off in volatility in the comingweek,expect an immediate swing towards the median zone of the range. Both trend indicators are now placed intheir respectiveneutral complimenting a pullback within the immediate trading zone. Only a breakdown below the recent ‘Doji’ nearitsshort term support zone of 15670-15700 would open the final leg towards 15100-15000 zone which could bethebaseforthis series. Hence traders are advised to remain cautious on their leveraged positions while we continue toretainourneutral to bearish outlook until a firm reversal emerges on its weekly scale. Retain long shorts until a firmconsecutivecloseis not established on its daily scale.
Nifty Chart
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