Indices were more around 4% on weekly basis. Mid-Cap 100 was down 5.24% & Small-Cap 100 down by 7.98%. VIX @ 23.48 remains above comfortable level. 2nd half selling on Friday – Nifty closed below 16000 level and near lows made in 7 – 8 March 2022
Based on our view on chart, we have a mix view on market. So how we will approach market – In case VIX goes above 25 – we would prefer to play for lower level of 15300 & 14800 level. On the other hand, if VIX stays below 25 & Nifty approaches above 16000 level – we would prefer to play for short -covering.
For short term: Play via hedge position & in equity market – prefer to buy as per conviction in case of huge fall this week with medium to long term view.
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