Thread on #Nifty & #BankNifty from here.
India Vix has started rising, so I expect a bumpy ride ahead. Nifty has broken all supports. I was expecting a little more consolidation at upper levels, but it broke all supports pretty soon. Way Ahead? I don't know right now. 1/n...
@rohit_katwal We have formed LLLH so we are bearish. India Vix is at a resistance ready to rise. Being Friday, I will not carry forward position. I don't want to sell in the middle even if more drop is expected. Neither I want to catch a falling knife. Expecting Inside Bar. 2/n..
@rohit_katwal Selling is intense with volumes/short buildup. 11000 CE witnessed intense writing on weekly/monthly so should act as a temporary resistance now. Bearish view negates above 11250 which seems unlikely for now. Ideal strategy is to let Nifty Bounce and wait for 3/n...
@rohit_katwal some consolidation and breakout before picking a direction. I am also looking at Vix as it is forming an interesting chart now. Its ready for explosion or cool off.
Check Bank Nifty COI and crazy shorts are added. Now I am looking at sustenance. 4/n...
@rohit_katwal In short, very tricky place to be in. I am hoping to get an entry by Monday. If I don't, I am willing to sit this one out till I get one. On every rise, I will look for short or sideways trade. Considering longs only above 11250/22800.
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