Nifty- 16200 is a strong support
Nifty is a short distance from 200EMA support---this should also be at around 16200 level which is a consolidation area and a strong support level.
Whether Nifty will halt & reverse or just pause at 16200 ? Let us wait and see.
VIX went haywire today with a 16% jump to 19 level. PCR at 0.47 indicates the pullback will come soon as well.
FIIs sold for 3565cr and DIIs bought for 2764cr--- retail investors SL would have been triggered by such a steep gap down and fall. Expect fall to continue till 16200 and then we might see a pause at least. Lets see how markets operate tomorrow.
Whether Nifty will halt & reverse or just pause at 16200 ? Let us wait and see.
VIX went haywire today with a 16% jump to 19 level. PCR at 0.47 indicates the pullback will come soon as well.
FIIs sold for 3565cr and DIIs bought for 2764cr--- retail investors SL would have been triggered by such a steep gap down and fall. Expect fall to continue till 16200 and then we might see a pause at least. Lets see how markets operate tomorrow.
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