India VIX fell by 7.10 percent at 14.58 and the decline in volatility is supporting the index for a bounce back.
The 50-share NSE Nifty is likely to open mildly higher, tracking positive global cues. The Singapore Exchange (SGX) Nifty futures also indicated positive opening, rising 38 points at 10,276.
The Nifty broke six straight sessions of decline on Thursday and formed a Hammer-like pattern on the daily candlestick charts, but experts feel that bulls are here to stay for a few more sessions. Traders should, therefore, avoid shorting the market.
The index opened at 10,216 and rose to an intraday high of 10,270. It slipped to an intraday low of 10,146 before closing the day at 10,242, up 88 points.
India VIX fell down by 7.10 percent at 14.58 and the decline in volatility is supporting the index for a bounce back.For more, watch the Markets@Moneycontrol show as Moneycontrol research analyst Shishir Asthana talks to Anchal Pathak about what the market trends to watch out for today.