NIFTY while updating made low od 5119.25 which is 61.8% retracement from low of 4531 and high of 6229….if it hold then 5300-5330 bounce not ruled out.
and INDIA VIX also near topping out channel at 35.12….Panic top created at 38.90 in 2011….
Markets tanked on FOOD SECURITY BILL PASSED ON Tuesday where Rupee was at 64 and today made low of 68.73…..
Now everybody is on short side in Equity Markets and in Forex markets on rupee ….Is this the time smart money would start flowing in may be ??? as smart money always comes in small tranches where people doesn’t come to know until the consolidation and breakout happens in market ……Smart money makes more money then any FII and HNI and individual as they always buy such panic bottoms and wait to exit where retail people enter.
Smart Money ————> FII ————> HNI ————> Retail
once Retail starts to enter smart money starts to exit…….
Let see it will be our in next 3-6 months.
Also there is Geo-political concern of WAR looming by USA and allies on SYRIA which is taking crude and GOLD up but if war does not happen then this trades would fizzle out……