Nifty 279pts gap up tomorrow, Weekly above 50/100/200EMA

16 Mar 2022

SGX nifty is indicating yet another massive gap up tomorrow of 279pts, a reflection of buoyancy in global markets. Let us recheck this after fed meeting tonite and before market open tomorrow morning. PCR is 0.84 and VIX has dropped below 25. Fresh investments can be expected once VIX is showing cooling off and sustaining below 25 and going towards 20. CPR is again narrow tomorrow, so a trend can be expected. Nifty is trading above 50/100/200EMA on weekly chart and looking to make a green followup candle tomorrow (last week was also a big green candle). What do you think?