Update for 11th August 2011

The 5175 - 5225 Resistance Acting Tough ?

It seems that the lower boundary of the gap which almost coincides with the top end of the previous low cum support area of 5175 - 5225 is acting as a strong resistance as of now. Failure to clear the resistance will lead to a test of the lows in the ensuing days. 

Nifty Futures - Daily Chart 

Update for 10th August 2011

High Volatility to Continue !

It seems that the high volatility in the market may take some more time to subside. The following chart of India VIX shows the explosion of implied volatility seen in the Nifty Options.

India VIX - Daily Chart  

Nifty Futures - Daily Chart