Nifty Fell 270 Points From Over Bought Zone Of 10660

Nifty tanked 270 points intraday as the index failed to sustain the buying momentum above the overbought zone of 10650 approx.  The index faced stiff resistance around 10660 this morning and closed around the 10 DMA(10450 approx). 

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Nifty Runs Out Of Momentum After Testing 10600 Briefly

Nifty registered a high of  10604 today after opening 40 points gap up in the morning. The benchmark index, however, failed to continue the buying momentum despite a significant drop in the India Vix which closed below 18. 

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Nifty Climbs 114 Points Intraday, Buying Likely To Continue

India’s benchmark Nifty closed above the 5DEMA high (10512 approx) for the first time in a week. The index has recovered almost 4% from its recent low of 10138. In today’s trading, Nifty took the support of the 5 DMA (10410 approx) and rallied 114 points to register a high around the 10 DMA (10525 approx).

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Nifty Closes Week On A Positive Note, Will Find Support At 10320

India’s benchmark Nifty closed the week on a positive note at 10472 approx. The index has recovered more than 350 points in the last two trading sessions. Nifty opened almost 100 points gap up this morning and is likely to take the support of the weekly lower-Bollinger band (10320 approx) in the coming days. 

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Nifty Headed Towards 10550, India Vix Drops To 18

India’s benchmark Nifty staged a remarkable recovery today as the index scaled 160 points from the day’s low and made a high of 10480. Buyers displayed immense confidence as Nifty sustained above the delta neutral zone of 10260 and pushed India Vix down to 18 at the close. Call options buyers clocked massive gains intraday. 

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