Nifty update1. Nifty is at strong support zone in terms of both previous support zone of Jun - Jul 21 and adaptive VWAP zone. Levels of 15600 - 15900 is the support zone.
2. Given Inflation data in the US markets and the risk of rate hike, this support zone looks weak.
3. Point and Figure indicates a bottom of 14800 zone and it also coincides with another AWAP level of 14200 - 14700 level.
4. If the level of 15600 breaks, vix can shoot up to 32-36 levels indicating high volatility and less opportunities for shorting the market.
5. At 14800 levels it might become value zone and lot of value and contrarian investors might get active forming a side ways market.
6. 14200 - 14800 is the best time to go long term.
