#Nifty to move up but keep the volatility in count.

NSE:NIFTY   Nifty 50 Index
Nifty would move up on the basis of exit polls of Gujarat elections released yesterday.
But its always a wise thing to expect volatility in the market no matter what during these type of events.
If Nifty moves above 10330 then it will be seen as a breakout in the chart which is seen to be forming a flag pattern .
Also the VIX is trading above 16 from few sessions now, so that has got the options prices to inflate a bit.
If you don't know about that then you must learn about the Implied volatility's effect on options because it might start showing its effects in the later part of the next week.
Comment: The level of 10330 mentioned in the idea respected by NIFTY, also faced resistance near the level of 10355 as mentioned in the chart.
Trading at levels works out perfectly.


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