BankNifty Vixfix has been continuously increasing and the OBV decreasing, basis yesterday EOD data they have reached the point of intersection after which they will diverge. - this is an indication of large downside correction and i estimate atleast 1000 points more.
TCS is currently testing its support of 2200, and has closed below it today. I use Vix Fix along with On Balance Volume to see the trend. Here the OBV is decreasing while the Vix is increasing - clear indication of Share sliding down. Further confirmation is taken using a setup of Stochastic Momentum and Awesome Oscillator. Stochastic shows the beginning of down...
The vixfix is coming down and the On Balance Volume is going up.. recipe for a long rally, also confirmed by Stochastic Momentum.
It could be a slow rally upwards so will prefer entry via Jan series Call.