Nifty Futures on Monday Trading Session turned down which brings the short term trading sentiment down with strong liquidation. And also Tuesday session opened with a gap down and later price started balancing and accepting down below 12220 levels (one of the major support zone for this series)
Volume during the Tuesday trading session is muted especially from 10a.m – 2p.m. Overall Short term traders dominated for the day.
Price sustaining below 12220 levels bring a possible downside reference towards 12100 and 12040 immediately.
India VIX maintains above 15.86. The level of fear in the markets is mildly elevated.
Option writers are still defending 12000PE & 12500CE for Jan 2020 expiry.
The immediate trend is down. Short term resistance still got built around 12334 levels. Possibly an acceptance above 12260 could bring a possible test towards short term resistance 12334.