NIFTY FORMED A DOJI CANDLE STICK PATTERN ON A DAILY CHART TODAY AFTER A SHARP UP MOVE AND NOW TRYING TO KISS 52 WEEKS HIGH. THE OPTION CHAIN SUGGEST AFTER CAPTURING 5800, BULLS HAVE SUCCEEDED TO HAVE FIRM GRIP ON 5900 MARK TOO. 6100 STILL REMAINS A CRUCIAL RESISTANCE MARK. VIX ROSE BY MORE THAN 1.5% AND CLOSED AT 16.76 AFTER KISSING 17.22 LEVELS. THOUGH THERE IS NO SIGN OF ANY CORRECTION ONE MUST EXERCISE EXTRA CAUTION AT HIGHER LEVELS NOW FOR THE FOLLOWING THREE REASONS.
1. NIFTY IS NEAR 52 WEEK HIGH WHICH MAY LEAD PROFIT BOOKING
2. VIX IS RISING SO MARKETS MAY TURN HIGHLY VOLATILE
3. DOJI CANDLE STICK FORMATION AFTER SHARP UP MOVE.
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