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India VIX, the key gauge of market volatility, eased from its earlier highs of 33 and currently traded at 29 levels or so.
So does this indicate a clear uptrend going ahead or is there any caution on that front?
Check out the trading strategies with Chandan Taparia, Derivative Analyst, Anand Rathi Financial Services.
Smartinvestor : Markets have been on an upswing since last week. Do you expect this momentum to continue in the second half of the session?
Chandan Taparia : Yes, Market has seen strong upswing in last two weeks led by buying in all beaten down stock (short covering). Derivatives Data : Put Call Ratio moved up to 1.28, fresh Put writing seen in all strike between 5400 to 5700 strike, Falling volatility from higher levels.
Chandan Taparia : Maximum Call OI was at 5700 strike and after the gap up, unwinding seen, now 5760 is likely to act as an immediate support.
Chandan Taparia : Till it doesnt breaks 5760, momentum is likely to continue towards 5900 levels.
Smartinvestor : Market IVs are still high, so do you expect that the market is going to correct going ahead?
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