INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty on Friday cracked over 400 points to test the 11,200 level
recovery.
On the weekly scale, the index formed a bearish candle
Analysts said the 11,000 level is not a possibility for Nifty.
For the day, the index fell 414 points, or 3.56 per cent, to 11,219
This was the sixth day of consecutive fall for the index
As per weekly chart, Nifty formed a long negative candle this week, which moved down as per the larger negative sequence of lower tops and
the index may see good support in the 11,100-11,000 range
concerning thing is India VIX, which shot up 70 per cent last week
mean-reverting opportunity for investors with a long-term view
Short-term traders should remain on the sidelines as VIX remains extremely high