F&O: Nifty tech charts, falling VIX signal a bounceback ahead
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Last Updated: Dec 22, 2020, 05:03 PM IST
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The index has to hold above the 13,450-13,500 zone to witness a bullish bias towards 13,600 and the 13,750 levels
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India VIX fell 5.20 per cent from 23.19 to 21.98 levels. A cooldown in volatility from higher levels has provided support for a decent bounceback move, and it now has to hold below the 19 mark to help the bulls continue their grip on the market.
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Nifty opened positive on Tuesday, but failed to surpass the immediate hurdle at 13,450 level and drifted towards the 13,200 mark in first hour of the session. The index formed its intraday base at 13,200 level and witnessed a decent recovery of more than 300 points from lower levels in the second half.