Nifty Outlook by Epic Research

Nifty ends down for the 9th consecutive day as it closes near to its 100 days SMA. Volatility has been rising and that is what is reflecting in the price action which was much muted in the 1st session and expanded post lunch with Index, Stocks, and sectors all taking a hit.

The volatility was seen rising and closing near its swing highs of 27.5. It was a bloodbath as Pharma, Media, and energy was down 3-5%. The other sector index such as Pvt banks, Nifty bank, Auto were down 1.5% to 1.9%.

We have seen some massive profit booking in last few days and that is now followed by aggressive shorting. The sudden shift in OI from 11500 – 11700 is now seen to 11000 – 11400. This is the volatility that we are seeing in the market. And for sure we believe traders may hurt their capital if not traded with proper stop loss or at least with a hedge.

We believe the damage is done. Any pullback or recovery will be short-lived as the breadth is completely absent. We maintain our sell in advance for lower targets of 11050.

For more information and best STOCK TIPS Call us ✆ – 0731-6642300 or Visit http://www.epicresearch.co

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