Nifty Blog by CA. Sachin Aggarwal

Dated :- 29.03. 2020                                 NIFTY SPOT : 8660.25

                                                                                                         

Hi readers,

Nifty remained volatile with sharp moves up and down.

Which was expected considering VIX is at his highest.

Now What :-

Nifty is still in overall downtrend.

Every rally shall be used to sell.

But yes the level of 9223 shall be important for Nifty. Which is first resistance on the up side.

Since that level is far off. It is always better to play on intraday basis.

Which only professional can handle, as risk management is required.

Also, as I have been mentioning that India VIX is very high at present it is  above 70.

It require at least 6 red candle for India VIX to cool down.

Ever Since India VIX has started being tracked, it has never reached that level.

Thus volatility will be at its extreme.

Wild movement will be there.

The current rebound may be to save some institutions for March 31st pressure. Which might have triggered redemption's or panic.

Again I will not be interested in finding bottom as yet.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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