India Vix Spikes & Indices Sink in a Free Fall


NIFTY O / H / L / C

16021.10/ 16041.95/ 15735.75/ 15808.00 [-359.10/-2.22%]

BANK NIFTY O / H / L / C

34289.10/ 34341.20/ 33297.65/ 33532.15 [-1161.00/-3.35%]

24.27/+6.45%

FII DII Data -440 Crores

SGX @ 1845h -1.50

TOP 5 CONTRIBUTORS OF NIFTY

Lifters 01

Draggers 144

Net -143

TOP 3 CONTRIBUTORS OF BANK NIFTY

Lifters 000

Draggers 699

Net -699

CHART BASED DETAILS & ANALYSIS IS GIVEN IN THIS VIDEO:
https://youtu.be/eTYA9Q0InKg

POSITIVES

I am unable to find anything positive at the moment.

NEGATIVE

And correspondingly, everything related to the market is negative as all the heavyweights have ended the day in the red.

FIIs keep selling in large numbers and DIIs are unable to match their selling on a daily basis.

SUPPORT & RESISTANCE LEVELS –

The situation is too volatile to decide about these levels in advance. It is best to react than predict the levels in the given situation.

TRADING INSIGHTS & OBSERVATIONS

  1. Nifty opened with a significant gap-down of almost 150 points, then made an attempt to rally but as usual, was forced down and sold into.
  2. The open price of was down by 0.90% And the price was down at the open by 1.16%. So they were more or less aligned at the beginning.
  3. In the first 5 minutes only, it broke 16000 psycho level and that is when panic had already set in with the India Vix steadily rising above 24.
  4. In the first 45 minutes [and thereafter for the most part of the day], TCS (NS:) was the lone heavyweight which was not in the red. However, on an EOD basis, TCS also slipped mildly below the earlier close but it still did a commendable job of retaining sanity amidst the mayhem that was played out during the day.
  5. After hitting the support zone around 15850, the Nifty bounced back a few points but it could not weather the selling pressure around 15920 and below and fell again.
  6. It then recovered mildly and fell again and then again mildly recovered but soon after 1300h, it started the final sell-off which saw it breaking 15800,15750 and finally making a low at 15735 around 1430h.
  7. It then made a good recovery of 100 points or so and finally managed to close above 15800. While Bank Nifty ended the expiry just above 33500.
  8. At one stage, India Vix was up 10%+ and was well above 25.
  9. 7 out of the 9 Nifty heavyweights were down 2%+, Infosys (NS:) was down 1%+, and TCS was down 0.10% on an EOD basis. This itself shows the severity of the damage caused to the index as well as the stocks listed thereunder.
  10. The situation is worsening by the day and we also have a holiday on 16-5 next week so we may have another surprise in store on 17-5 as nowadays a lot is happening globally as well as in relation to the domestic cues.
  11. The Swing low of 15671 hit on 08-03-22 is now within striking distance as Nifty range is now between 200-350 points a day. The point is that if and when it is retested, will that hold or Nifty would go down further.
  12. From an investor perspective, the market is now full of opportunities and one would need to choose the stock carefully to gain in the short to medium term.

See also  Nifty Ends Jan 2022 Series on a Negative Note

Note: Posted purely for informational & educational purposes only.



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