Nifty down - India vix high

NSE:NIFTY   Nifty 50 Index
So from last week india vix was below 13, which means option prices were not moving due to the low of india vix.
So today nifty fall and after falling it was in a tight range of 70 points between 17800 and 17720 levels. We can expect a trending move as well as a range-bound market.
So if it opens in a 70 points range and breaks the 17800 level we can expect the previous day's high (PDH) target i.e. 17880 level and if breaks the level of 17720, our target will be 17655 level.
On the other hand, if nifty open below the previous day's low(PDL) or gap down most probably the market will be sideways and if it opens above the 17800 level , 17880(PDH) will act as resistance.

Note - I'm not sebi registered, this is only for educational purposes. Do your own analysis first.


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