The Nifty future closed negative with losses of 1.03% at 21569 levels on Monday. India VIX was up by 6.57% from 12.63 to 13.46 levels. Volatility rose after the cool off in the last week and awakened the bears at crucial support zones.
The Nifty Bank closed lower for the week ended on Friday, January 5, 2023, but a bounce back from the lows suggests that bulls are not ready to give up yet.
Positive setup was seen in stocks like Biocon, Bajaj Auto, Canara Bank, HPCL, Indus Tower, GMR Infra, HAL, Indian Hotel, Trent, Godrej Properties, ABB, IRCTC, Bharti Airtel, ITC, Cipla, Lupin and Glenmark.
India VIX was down by 0.68% from 14.68 to 14.58 levels in the previous trading session. Volatility was slightly down and has been cooling off from the last four sessions.