Nifty is steadily moving upside with vix also dropping near 15.5 which shows that there is high optimism and stability in market. Now for this week we have lot of events such as FED meet and surprise RBI press conference. So if there is any unfavored announcement in both of these events then vix would shoot upside to 17-18 range. And that would be the indication of fear in market. Now also nifty is near its resistance range of 18015-85 and at the upside of parallel channel in 30 Min TF. And below we see some support levels of 17775-17800. Thus I'll play my trades according to these levels with caution on downside now. or even avoid trading totally till the event gets cleared.
Happy Trading :)
Disc: Chart posted only for learning purpose.
Happy Trading :)
Disc: Chart posted only for learning purpose.