Overall fall in volatility giving comfort to the bulls: Nilesh Jain

The volatility index, IndiaVIX, fell by 5 per cent and ended at a 4-month low of 24.75 levels on Thursday

BUY NIFTY | TARGET: 10,950 | STOP LOSS: 10,700

The Nifty index continued its upmove in line with our expectations and is also holding above 10,600 levels which is a major support zone. The momentum indicators and oscillators are very well in the buy mode on a weekly scale which hints that bulls are tightening the grip and the current pullback is likely to extend further. The volatility index IndiaVIX, fell by 5 per cent and ended at a 4-month low of 24.75 levels. The overall fall in the volatility is giving comfort to the bulls. Thus, aggressive traders can initiate