Description
⋅ If we go by Global markets, news flow and subsequent panic the short covering rally is over.
SGX Nifty is suggesting the same.
Good thing to take home is, Dow is a little lesser volatile, chances are that it will try to consolidate around these levels.
8046,8126, 7822, 7446 and 7266 are to be looked at on downside, while 8775 is important on way up.
Repeating in Vix 65-75 region, is not en environment for trade, better to wait for things to settle down.