The Road Ahead for Nifty: Volatility and Uncertainty

NIFTY broke below its significant support of 23,000 yesterday. However, the decline appears to be temporary for now. A sustained trade below 23,000 on the spot market is likely to drag prices towards the zone of 22,400 to 22,600 in the near term. With India VIX above 17, a one-way decline is unlikely. Markets are likely to head lower, but in a volatile manner. NIFTY is currently trading well below its resistance. As noted multiple times, volatility is likely to remain high until January 24th. Therefore, stay nimble with your trades. It is better to avoid careless trading. From here on out, it would be ideal to operate at lower volumes.”