The shooting star candlestick pattern which was formed during the previous week has been negated and Nifty surpassed its high.
From here on, things would get more and more difficult for unidirectional traders since markets could remain choppy.
For quite some time we have been maintaining our cautious stance on the markets
Market outlook: Investors should wait for a significant dip in stocks to create fresh longs.
The VIX suggests that the consolidation phase is about to end and markets might turn volatile going ahead
Unless Nifty sustains above 15,600 on a closing basis the short-term, trend remains strong and intact
Traders should turn extremely cautious because VIX is trading near a multi-year support zone of 12-10.
With regards to the Nifty Bank index, it has again disappointed after giving a breakout on the daily chart
The derivative figures indicate that retail participation is highest in stock futures in compared to previous years
With regards to Nifty Bank, the level of 33,900 acted as a support during the week. Now at this juncture, the index is on the verge of a breakout