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Nasdaq100, S&P500, VIX

VIX Analysis- 24Feb2020

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VIX breaking out of the upper Bollinger Band range has been a reliable end to the panic and sell signal, and a good buy signal in last 6-12 months.Today is the most emphatic break out, in fact its like a rocket taking off. This may give a follow on spike in the next 3-4 days, and which may coincide with another deep red day, but two shots is the max VIX has been getting at the upper Bollinger Band range.
[Edit: 13 March 2020] This time it was indeed different, and the VIX spike of 24 Feb 2020, went on to kill the bull market rally, by crashing S&P500 by 25% in 13 trading sessions, at nearly 2% per day!

Bank Nifty

Bank Nifty Futures Analysis- 20Feb2020

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Bank Nifty futures will be strong above 31,000 and they will be weak below 30,800. Bank Nifty is currently in downtrend, and therefore, there is a constant selling pressure, which accelerates below 30,800.

Bank Nifty futures bounced back strongly from 30,300 level in the previous week, so that is a strong support level. There will be strong selling pressure below 30,500 and therefore, Bank Nifty is at a key level currently, and it does not have much space for consolidation or stabilization.

Bank Nifty futures are bouncing back strongly from lower levels but unable to hold on to their gains. This is because of the weak economic conditions in the background.

However, Bank Nifty futures weekly chart is in uptrend, and indicating bullishness, and there maybe an upmove in sometime in the coming 6-12 weeks for target 32,000. Continue reading Bank Nifty Futures Analysis- 20Feb2020 →