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Market is playing the dead volatility game. If you are a classical technical analyst you would have noted that the monthly charts would have shown overheated levels. So thought of bring down the charts with smooth RSI indicator applied over the monthly charts of Nifty and Bank Nifty Futures. Not only the Indian Markets but most of the bull markets in other countries would have painted the similar picture. Every time markets comes with some overheated figure and Say Boo to the Investors.
Nifty Monthly Charts
This time the Smooth RSI levels of Nifty and Bank Nifty futures values comes around 96.41 and 91.58 levels. Charts also shows the Smooth RSI values during the peak zone and the current Smooth RSI levels are at record high levels. And Interestingly Bank Nifty closed positive for 9 consecutive weeks. And the IndiaVIX at sub 12 levels again which indicates that there is no fear/panic in the markets at this point of time.
Bank Nifty Monthly Charts
Nifty Options Overview
Currently December Nifty Options Open Interest Picture shows 8500PE has higher open interest and also 8600PE and 8700PE almost have the equal amount of open interest as of 8500PE which indicates that option players are betting on either side and the market could break either side more violently with increase in volatility.
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Related Readings and Observations
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