 "Derivatives Strategies: Intermediate trend is bearish")
The market has one phase of a sharp correction with a rebound on Monday. However, it’s possible that this is now an intermediate downtrend. A five session dip saw the Nifty find support at 9,685. This sets up a pattern of lower lows versus the previous low of 9,792 (July 18). The rebound hit selling pressure around 9,800 and the index closed at 9,794 on Monday.
On the upside, the mark to beat is the all-time high of 10,137. The correction led to a drop of 4.5 per cent, along with a big spike in the VIX and other
On the upside, the mark to beat is the all-time high of 10,137. The correction led to a drop of 4.5 per cent, along with a big spike in the VIX and other
