F&O: Surge in VIX, lower lows for fifth session send out weak signals
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F&O: Surge in VIX, lower lows for fifth session send out weak signalsBy Chandan Taparia, ET CONTRIBUTORS
Last Updated: Jan 29, 2021, 05:41 PM IST
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Synopsis
The index continued to form lower lows for the fifth session in a row. It formed a bearish candle on the daily scale and signaled that Nifty may continue to remain highly volatile ahead of the Union Budget 2021.
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As long as Nifty remains below 13,800 level, every bounce could be sold into and the index may see weakness till around 13,500 and 13,300 levels, while on the upside, the immediate hurdle exists at 13,800 and 14,000 levels.